When you’re getting a divorce, it’s important to know which assets are yours and which are going to the other spouse. There are a few things you should do to make sure this happens.
First, if you have a prenuptial agreement, you should enforce it. Your property arrangements were agreed on in a time when you both enjoyed each other’s company, so it will be the best place to start.
Second, keep your separate property separate through the end of your marriage and divorce. Any time you mix property during a marriage, it can sometimes be converted into marital property that the other person has a right to claim for.
During divorce, any increase in value of marital properties will be considered. The appreciation of assets may lead to some confusion, but the court will want to see that marital assets with the potential for increased value are shared appropriately between the parties.
If you want to show that property is nonmarital, it’s important to show that you purchased it with money that was not marital property. For instance, if you have an inheritance and buy a home, it’s possible that the property could be considered your personal asset instead of a shared asset.
If you have joint accounts or other financial assets that are shared, these will be split. Any marital assets are normally divided equitably, if not 50/50. Our website has more on this and other property division topics, so you can be informed before you decide how to move forward with your divorce or separation from your spouse.
