While no one marries with the idea of divorcing, top family lawyers can attest to the fact that unfortunately, divorce still happens to a good percentage of couples. When it does, one of the main areas that has to be settled fairly is the distribution of assets. Even if there are not many assets, it is still important that both partners are treated fairly when it comes to asset division.
In fact, the court will also decide on the fair division of debt as well as assets, so that one person is not left with the kind of debt that they cannot possibly manage and the other person gets assets and no debt. So how can a court possibly decide what is fair and what is not fair? Certainly it would be easier to make such a decision in a case where there are no children, both work and have equal income. However, this is rarely the case.
Sometimes, the wife is not trained to do any kind of work and if there are small children, it is usually the mother who must care for them – unless she is incapable of doing that for some reason. Then there is the question of assets that one or the other may have had beforehand, that they brought into the marriage and so on.
There is the question of whether both will care for the child or children equally in time, or whether one of them will take full responsibility. The court also takes into consideration future wage earning potential, and whether the children will be properly cared for if the prime carer also has a full-time job.
The court may decide that the family home should be sold and the profits split equally between the two, or it may decide the prime care-giver should stay in the home, while the other person receives a share of other assets in place of half the profit of the home.
So if you are wondering about the division of property after a divorce and whether you should take the matter to court, these are a few of the reasons to do so. Only if both parties have agreed to the division of assets will the matter not have to proceed to a court to decide. That said, many women especially, will agree to any kind of asset division just for the sake of having it all over and done with.
This may not be the best outcome for you. It is important to consider your future, your ability to earn and the future of your children before agreeing to a division that seems less than fair in your eyes. You can be sure the court will make a decision that is fair and equitable, being based on many factors and not being clouded with any emotional trauma.
