Distribution OF ASSETS AND LIABILITIES
Dividing marital property can be tricky business, so it is important to properly distribute assets and liabilities. This does not necessarily indicate equal division, but fair division. Instead of splitting everything in half where each party receives half of the property acquired during the marriage, the distribution is used to look at future financial circumstances for each spouse after the marriage has been terminated. This can be extremely tricky, as property can cover a range of assets including real estate, vehicles, brokerage accounts, retirement accounts, and so much more.
Even though it is difficult to predict the annual outcome of said distribution, this can be a very flexible system even though it is decided by the state courts. Several factors taken into account when dividing property during equitable distribution are subjective, making any sort of prediction impossible. Divorce Mediation of Rochester takes a dynamic approach and works to find the most favorable outcome for both parties. We recommend contacting our experts to help guide you through this difficult time rather than going to the courts with no 3rd-party input designed to help mediate and work towards a favorable outcome for everyone involved.
Many may be mislead by equitable distribution laws. If you and your spouse agree on how the division of property should take place, you do not need to rely on equitable distribution laws. If this sounds like an ideal outcome, you can rely on our divorce mediation services to help guide you through this process.
With that being said, there are instances where the complexities increase as different assets my qualify as material property, which would then potentially need to follow the equiptable distribution laws. If this sounds confusing or stressful, it doesn't have to be.
If you're reading this you are likely already going through a stress-filled time. Relying on our mediation services will save you time and money instead of relying on a court. We will also help both parties be flexible to strive towards a favorable outcome for both. We would love to help you and are here to answer your questions about our mediation process.
Divorce Mediation of Rochester does not provide legal advice but will guide both parties to a mutual and voluntary agreement on this matter.
- East Rorchester
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Divorce Mediation of Rochester LLC. Is not a law firm and does not provide legal advice or counsel. Each party has been encouraged to be fully advised by their respective counsel regarding the legal, financial, and practical effect of any agreement entered into.