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Posts Taggeddividing assets

Divorce & Separation: Dividing Up Possessions

August 08, 2019  |   Posted by :   |   Blog

Personal possessions (or ‘chattels’) are sometimes a tricky subject when it comes to dividing up assets in divorce or separation – after all, how do you put a figure on something that has sentimental value? Chattels includes everything inside your home, along with vehicles and even pets! Essentially, anything other than property and financial assets.  During divorce, a couple’s main concern is usually where they’re going to live, what they’re going to do with any shared property, how to manage and divide their finances, and the future care of any children. Personal possessions are often fairly low on the list, but ironically sometimes it’s the little squabbles over individual items that ends up extending ...

What’s included in the ‘pot’ when it comes to assets and divorce?

July 15, 2019  |   Posted by :   |   Blog

The distribution of assets is rarely straightforward. It would be wonderful if you could split everything down the middle, 50/50 but it rarely works out that way. Relationships, and their associated finances, are complicated, which is why it’s important that each member makes a full and frank disclosure of both individual and jointly owned assets, property, and finances when they enter into the separation process. This is a necessary first step, no matter what approach you take – court divorce, mediation or collaborative methods – and it never pays to try to hide or offload assets (in fact, it is classed as fraud and ...

Divorce & Separation: Dividing Assets

April 25, 2018  |   Posted by :   |   Blog

Dividing up assets during divorce can be a sticking point for even the most amicable of couples. It can be difficult to come to an agreement over financial settlements, particularly if there are complicated issues such as multiple properties, businesses, or personal investments, but a few basic ground rules apply to the division of assets: As a general rule, the value of all assets will be placed into a joint ‘pot’ which will then be divided between the couple according to the needs of each party. Assets may include property, vehicles, savings, the contents of bank accounts and investments as well as personal items. Spouses are required to declare ...

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