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Dividing your assets and common mistakes

On Behalf of | May 31, 2022 | Wills & Trusts |

When you’re going through a divorce in California, you might think that you should just divide everything that you own in half so that each person has something or so that each person has their own belongings. However, there are a few mistakes that you could make by dividing your assets in this manner that you can avoid.

Doing things yourself

Although you might save a little money with property division and other details pertaining to your divorce, you want to try to avoid doing everything on your own. Instead, consider seeking legal help so that you have someone who can walk you through the documents that are needed, how they should be filed, and what to do if the other party disagrees with the way the assets are divided.

Getting in a rush

You might want to just get your belongings and leave the home or get the other party’s belongings out of the home, but one of the mistakes that are often made when dividing assets is rushing through the process. If you rush, then the division could be unfair. You could also miss something that should be divided and isn’t. Look at the details of each asset so that you can correctly and legally determine how much of it each person should get if it’s not equally shared.

Future needs

Look at where your finances might be months after your divorce. When you’re dividing your assets, you want to try to save a little money from each one so that you have enough to survive until you’re in a position where you’re comfortable enough to support yourself.

A task that often comes along with a divorce is the division of assets. While it might seem like a simple process, there are mistakes that could happen that you can bypass.