Equitable Property Division Requires Practical Thought

High asset divorce is often a challenging undertaking because of the different types of assets that you have to divide. Trying to get everything split equitably may be easier if you are able to compromise with each other. This gives you a chance to think about what you want to fight for and what you'll willingly let go.

One of the most important things for you to remember when you're doing this is that you need to look at the cost of upkeep of each asset. For homes, this means being able to cover the mortgage payment, insurance, taxes, repair costs and maintenance expenses. You'll have to do this on only your income, so this may prove challenging for some assets.

Another point to remember is that you want to walk away with a settlement that can benefit your future. This means that you might have to put aside the emotions attached to some assets. Of course, you may still have some that mean so much to you that you're willing to bypass others.

In order to have an equitable property division settlement, you need to have a full accounting of all assets and debts. More complex cases might require the help of a forensic accountant who can look into public records and other locations to ensure that nothing is being hidden from the disclosures.

Finally, you can't let your feelings toward your ex determine how you handle property division. The focus has to be ensuring that you have a settlement that meets the legal requirements and that is equitable.

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