Several Myths Concerning Divorce And Asset Divisions

18 August 2017
 Categories: Law, Blog

If you are currently considering divorcing from your partner, it is vital for you to have an awareness of what to expect from the experience of filing for divorce. This may require you to unlearn some myths that you may have absorbed over the years about the law and process of divorce.

Myth: You Will Automatically Receive Half Of The Assets From The Marriage

The division of the assets from a marriage is often one of the most contentious parts of this process. However, individuals will frequently assume that they will simply be granted half of the total assets of the marriage. Yet, it is important to note that there is a distinction between the different types of assets. For example, the assets that a person had prior to the marriage may not be up for division, but the assets that were acquired during the marriage will be. This can make it necessary for you to prove that assets were acquired during the marriage. Additionally, the division of the assets will be handled through negotiations, and both of these factors mean that you may greatly benefit from retaining an attorney to represent you during to part of the process.

Myth: It Is Impossible To Prepare For A Divorce Filing

While most individuals will want to avoid the prospects of divorce, it is a reality that it can strike any marriage. Unfortunately, those that are considering filing for divorce may not realize that they should be taking some steps to protect their interests before the start of this process. In particular, you will want to obtain financial records for the marriage as well as copies of any police reports stemming from domestic violence. If you suspect that your partner will not handle the news of the divorce very well, you should arrange for somewhere to stay after informing them. Additionally, you should hire an attorney as soon as you make the decision to proceed as they will be able to help you protect your rights if the other spouse attempts to take retribution against you.

Myth: Prenuptial Agreements Are Always Upheld

It is increasingly common for individuals to sign prenuptial agreements before getting married. These agreements will outline the division of assets in the event that the marriage ends in divorce. While you may assume that these agreements are always binding, it is important to note that these documents outline responsibilities for both parties. If the other spouse violated their end of the prenuptial agreement, the agreement may be voided or the conditions modified.