One of the most legally complex issues for divorcing couples is how their marital assets will be divided. It is always preferable to enter into a property settlement agreement because the parties will control how the assets and debts are divided. However, a couple should be cautioned against preparing their own Separation Agreement as forms may be outdated, not be appropriate to the jurisdiction or be incomplete. The forms can also provide for more than the parties need. If an agreement is reached, an experienced divorce and family law attorney at Weaver, Bennett & Bland should draft the final document for execution.
If spouses cannot agree, a lawsuit may be necessary to have the Court identify, classify, value, and/or distribute their marital property. Identification is simply listing the items of property and debts existing as of the date of the parties’ separation. Classification refers to indicating whether the item is separate property, marital property or mixed.
The knowledgeable divorce and family law attorneys at Weaver, Bennett & Bland, P.A. are experienced in dealing with all matters in equitable distribution cases. Our attorneys have participated in negative estate actions (where the value of the estate is in the red due to massive debts) as well as marital estates worth millions of dollars. Contact us today to schedule an appointment for legal counsel.