Assets--and how to divide them



Wow, you are ready to get to work on evaluating your assets. Keep a clear head, try to remember all that you have, and don't disclose anything that you don't have to prematurely.

For instance, you may have a very simple lifestyle, living in an apartment with a used car that you own; your ex may choose to live similarly. Let's say you both have 401Ks or 457bs or some retirement program. And you have a joint checking account with $8,000 in it. No property, no children, no inheritances, no collectibles or antiques, and no big liabilities.

Let's also say, it's an uncontested divorce with no big issues. Both parties can accept the divorce and get on with their lives by splitting everything. If one party has more money in the retirement fund, then he/she would make it up in cash to the other. Or, one has a luxury car and other has a junker, then something would have to be done to even this out.

If this fits your situation, you may be a good candidate for an uncontested divorce, mediation, or a DIY divorce. Return to Finances

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