Allocation of Assets During a Divorce

During a divorce, the allocation of assets involves the process of dividing investments, financial accounts, retirement benefits, business assets, and property between spouses.  This can be done through an agreement between the couple or the court. For the divorce to go forward, the assets must be split in some manner. Cooperation from both parties can result in a much smoother divorce process. It will be up to a judge to consider the split of assets to be fair before finalizing the divorce.

Here are some tips in preparation for dividing assets:

• Create a list: Make a list of all of your shared and individual investments.
• Account for all assets: All assets must be accounted for in the process of dividing property.
• File a claim for dissipation: If a spouse intentionally hides an asset or wastes an asset on purpose, the court must be made aware of that. A claim for dissipation can be filed before the trial or after the discovery process.

Our professional staff at The Law Offices of Edward P. Graham can assist you in gaining a fair disposition of property that has been acquired throughout your marriage. Feel free to contact our offices in Naperville at (630) 357-2333 or in Indiana at (219) 797-7820.