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Dividing marital property in divorce: Assets to focus on

If you are going through divorce, you know that matters of property division can be hotly contested.

While you want to get your hands on the assets you believe you are entitled to, your ex-spouse feels the same way.

Dividing marital property in divorce is easier said than done, but there are steps you can take to put yourself on the right track.

One of the biggest mistakes you can make is focusing on the most common assets and overlooking others that can impact your life in the future.

For example, many people turn all their attention to the family home and joint bank accounts. While these things are extremely important, there are other assets that are often overlooked. These include but are not limited to:

  • Undeveloped land
  • Antiques
  • Collectibles
  • Housewares
  • Guns
  • Computers
  • Furs
  • Crystal
  • China
  • Cash on hand
  • Educational accounts
  • Annuities
  • Life insurance policies

As you can see, many of these items are in the family home. For example, you may have a large coin collection or a china cabinet full of valuables. All of these things need to be taken into consideration, as you don't want to leave any stone unturned.

Dividing marital property in divorce does not have to be a challenge, but there may come a point when you have questions about your legal rights and how to get what is yours.

One of the best things you can do is start the process as soon as possible. Once you know that you are going to divorce, you need to turn your attention to property division. In addition to making a list of assets, keep an eye on your spouse to ensure that he or she doesn't attempt to hide anything from the court.

Dividing marital property is not always simple, but it doesn't have to hold you back from finalizing the divorce process.

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