In the divorce process things can get thorny when couples begin dividing asset, as Jeff Landers explains in his GalTime.com article posted in The Huffington Post:
Dividing the family's property during divorce can be quite difficult, especially if there are significant assets such as houses, rental property, retirement and pension plans, stock options, restricted stock, deferred compensation, brokerage accounts, closely-held businesses, professional practices and licenses, etc. Deciding who should get what can be quite a challenge, even under the most amenable of situations. But, if your divorce is contentious, then this can be especially complicated.
New Hampshire is capable of processing at-fault and no-fault divorces and also allows equitable distribution of marital assets. This means that the entire estate should be split 50-50; however, the arguments raised during divorce proceedings can swing that balance either way. To make sure you are treated fairly, enlist lawyers who know the mechanics of filing for divorce in New Hampshire, such as those from Upton and Hatfield.
As equitable distribution of marital assets is possible, your New Hampshire divorce lawyer can educate you on its prerequisite elements. One factor you can note, for example, is the level of either spouse’s contributions to the marriage (whether home management, raising children, or developing each other’s careers). In some cases, a possible disparity there may arise that would influence the decision on the 50-50 split; one spouse, for instance, may argue that the other party is not capable of handling the assets.
Just because a divorce becomes official doesn’t mean any debts will go away. Debts distributed during a divorce must be apportioned properly, especially if some arrears were discreetly made. You must compile sufficient records to ensure that all debts are accounted for.
Divorce is a trying time for everyone. Through the help of a skilled lawyer, you can ensure you will not hold an empty bag when it is through.