Do you have to divide assets in a divorce?
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Do you have to divide assets in a divorce?
I just want a divorce but wild like to keep financial pressure things and eaglets as
they are in both names. Is that possible?
Asked on July 15, 2018 under Family Law, Alaska
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
The value of all assets acquired during marriage will be divided, but that does not automatically mean that each individual type of asset is split--for example, if there are two ATVs, worth $5,000 each, it may be that one spouse gets both and the other gets an extra $5,000 of cash or something else worth $5,000. This said, sometimes the court does physically divide any assets which are dividable (in this example, one ATV to each spouse), at least if the asset can be divided (if there was only one ATV, it could not be given to two people; either one person would get it and the other get more money, or the court could order it sold and the proceeds split).
In short, while the only guaranty is that the value of the assets will be divided, there are many ways to do that, such as selling everything and splitting all cash; one spouse getting some things worth $X, while the other gets other things also worth $X; one spouse getting more physical assets, the other getting more money; etc.
Retain a lawyer to help you. A family law attorney will be in a much better position than you to negotiate a favorable split with your spouse (it's always best to work things out voluntarily, when you can) or, if you and the spouse can't work matters out, can present your case for why you should get certain things much better than you can in court.
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