A calculator may be a best friend in dividing marital property

A calculator may be a best friend in dividing marital property

When people in North Carolina decide to end their marriage, most couples — with or without children — begin to focus on what property each party will take with him or her — just like similar couples across the country. Marital property can include many things, such as the house, bank accounts and much more. However, determining how to split all of the couple’s property equitably could be more complex than it may seem at first glance.

For most North Carolina couples, the family home is the most valuable asset they own. One party may be immovable in his or her desire to keep the family home despite the fact that it may not be the best financial move. For instance, giving up alimony in exchange for being able to keep the house may seem like a good idea. However, when that party sits down with a calculator and crunches the numbers, he or she often discovers that it may not be in their best interest.

Some individuals may just want to get the divorce over with, while others dig in their heels. Either situation is a recipe for financial disaster for one or both spouses. It may only be when the parties see how their decisions will affect their individual financial futures in black and white that progress can be made.

Divorce is an emotional process, even when the discussions are amicable. Negotiations to divide marital property can sometimes be a reflection of those emotions. However, when emotions are replaced with the math, a fair and equitable settlement often becomes possible.

Source: The Huffington Post, “The #1 Secret Weapon and Surprising Best Friend In Your Divorce“, Morghan Leia Richardson, June 27, 2014

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