What are the factors to consider when dividing assets and property during a divorce?
Jan Meriss Alfonso Assistant at Ascent Law LLC Factors to Consider When Dividing Assets and Property During a Divorce One of the key factors that will influence how a couple decides to divide their property and assets is the length of their marriage. If a couple has been married for twenty years, they are likely to have amassed more assets during that time and will have enjoyed certain standards of living while together. Economic Circumstances and Opportunities The division of assets and property during a divorce will consider the economic circumstances and opportunities of each party. For example, if one spouse owns a business or contributes a significant amount to the family business, the judge may give this asset to them. This offsets the loss and equalizes the assets and liabilities of both parties. Another way to divide property is by buying out the other spouse. This will require mortgage refinancing and may be difficult to do depending on interest rates and credit ratings....