Dividing property in a divorce process can be an emotional and difficult process. It’s common for each party to often feel that the individual assets belong only to them.
This is especially true when it comes to marriages with small businesses or pertaining to retirement accounts. The party who opened and worked in the business, or who contributed their wages into the retirement account, often feels it is not fair to have to divide the asset in the divorce case.
It is important to understand a court will not usually view property as belonging exclusively to one party. Property which is obtained during the marriage will usually be considered to belong equally to each of the parties.
In this excellent blog posting, Ken McRae offers steps you can take to protect your share of property in the divorce process.
Disclose every asset
Disclose offsetting debts
Keep your documents
Be prepared to negotiate