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Division of Property in a Divorce

The division of assets in a divorce can be a significant issue. Lawyers are expensive. They charge on an hourly basis. A “common sense” approach to division of assets can reduce your legal expenses.

Both parties may have deferred compensation assets, such as pensions, 401Ks, 403Bs, and IRAs. You should establish the value of these assets and trade them off if possible.

If the man uses the power tools on a regular basis, the majority of these tools should be given to him. If the woman utilizes a sewing machine or other items of that nature, she would be the logical owner of this equipment.

Disagreements Concerning Property Division

The division of property should only be brought to the court as a last resort. Litigating property division issues can be very expensive. An alternative to dealing with property division issues is to simply sell the property and divide the cash. Unfortunately, used personal assets generally do not generate a reasonable sales price at a tag sale.

Should you have questions concerning division of property, contact the family law attorneys at the law office of Elliot Schlissel by email or at 1-800-344-6431.

Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick, Bellmore