Separate from child custody, one of the main concerns of a divorcing couple is what to do with their shared property. What happens to the house? State law varies in terms of divorce, as does the ability of spouses to reach an agreement. A property division lawyer is highly recommended for both parties.
Couples feuding over sentimental items overlook their larger financial picture. A property division attorney recognizes those issues so no client is mistreated. Manyproperty division law firms have a team of evaluators who can accurately estimate all property, financial investments, retirement funds, marital estate, and more. During a divorce, the court considers these factors:
Each spouse's contribution to acquiring marital property;
The value of each party's property;
At the time of distribution, each spouse's economic circumstances;
The change in the value of each spouse's separate property during the marriage;
Separate vs. Marital Property.
In all states, assets acquired during a marriage are considered "marital property," which must be divided between spouses in a divorce.
In divorce, lawyers property division can make all the difference to the outcome. The relationship between you and your attorney should be one of trust. You need attorneys property division who take their cases seriously, listen to their clients, and move the case forward. Consider these tips to find the right property division attorney near me.
Choosing an attorney that you feel comfortable working with;
Consider your needs when interviewing prospective attorneys;
Don't be afraid to ask for advice, but decide for yourself who you’ll hire;
Choosing the best property division lawyer is more important than choosing a law firm;
Identify your ideal property division specialists by asking yourself, “Do I like them?”;
Experience and expertise are needed for the best attorney-client relationship;
Be careful with your lawyer's fees. Don't give them a blank check.
While lawyers for property division usually charge a contingency fee based on the settlement won, family law firms tend to charge an hourly fee. This is the time spent on a case, including consultations, meetings, and dividing property. Depending on the attorney's skill and experience, their hourly rate can range from a few hundred dollars to several thousand.
Property owned in another state before moving is called quasi-community property. Property that is quasi-communal is treated in the same manner as community property.
Property that is not divided in a divorce is referred to as separate property. Examples of separate property are:
There are three steps to determine property and asset division: