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What do you need to know about property division in a divorce?

| Mar 30, 2020 | Divorce |

Some married couples in the Arlington area will eventually get to the point – some after only months, and some after years – at which they decide it is time to end the marriage. This can be the hardest decision anyone ever makes but, if the divorcing couple can focus on the legal issues in the case and avoid the temptation to get distracted by negative emotions and animosity, a divorce case can probably go smoother than most people would expect. However, one of the most difficult legal issues to address is usually property division.

So, what do our readers in the Arlington area need to know about the property division aspect of a divorce case? Well, for starters, it is important to understand that divorcing couples must not only divide up their property and assets, they must also divide up their debts as well. A mortgage, car payments, credit card debt and even student loan debt may all be part of the property division aspect of a divorce case.

Next, it is important for the divorcing couple to determine what is “marital” property and what is not. Marital property is usually property that was accumulated during the course of the marriage, or assets that were comingled during the marriage. For the most part, any property or assets that one of the spouses had prior to the marriage, which was kept separate from their joint assets and property, will not usually be considered to be part of the marital property to be split up.

Another important point about property division is that it is oftentimes quicker and more cost effective for the divorcing couple to attempt to reach an agreement on this aspect of the divorce case, as opposed to fighting it out in courthouse litigation. After all, the less the couple spends on fighting over the issue, the more they will have to divide between themselves.