Preparing for divorce calls for you to take many important steps, with the creation of a property division checklist somewhere at the top of your priority list.
As you create this checklist, you’ll find that personal property has a prominent place. Not only should you make a list of all the personal property you own, but it doesn’t hurt to include the approximate value and whether it’s joint or separately owned.
Here are some of the many types of personal property that could be subject to division in your divorce:
- Motor vehicles, boats and recreational vehicles
- Home office equipment
With each asset, dig deeper to better understand how it’ll impact your divorce. For example, if you brought a motor vehicle into the marriage and your name is the only one on the title, it might not be subject to division — especially if it’s value has decreased over time.
Conversely, if you jointly purchased a motor vehicle during your marriage, you’ll have to figure out who retains ownership after your divorce.
In addition to creating a list of all your personal property, make note of anything that your soon to be ex-spouse could be trying to hide from the court, such as a valuable piece of jewelry. You hope this doesn’t happen, but you may find that you have to bring it to light to protect your legal rights.
Personal property is often a sticking point when dividing assets in a divorce, so make sure you prepare accordingly. This will help you get everything you deserve, thus allowing you to more easily move on with your life post-divorce.