If you are going through a divorce, then you should know that the more issues you will be able to handle on your own, the cheaper your divorce is likely to be. For example, you should be able to divide your properties on your own so that you only use your family law attorney for more complicated issues. Here are a few tips on how to approach asset division on your own.
Use the Balance Method
In this case, you place similar or related items into specific groups and then each of you takes a group. For example, you may place all the furniture pieces into one group, all the electronics in one group, all the tools into one group, and all the appliances in one group, and so on and so forth. After that, you each take a similar number of groups. That way you don't end up with uncoordinated items, such as a pair of pliers, a dining chair, and a microwave oven. This method works best for groups of items that are roughly equal in value.
Take Turns Picking
Another trick is to make a list of every single item you own, down to the last plate, and take turns picking whatever you want. This method may not work if there is a single high-value item in the list, such as a car, because the first person to pick will be extremely at an advantage. In such a case, you may modify it by handling the division of the valuable item separately.
Bid on the Items
An innovative and fair division trick is to list all the items you want to divide plus their respective values. Once you have done that, start at the top of the list and have each of you bid on the item; the winning bidder then keeps the item, and then you move to the next item until the list is exhausted. While doing this, you should have a column where you can sum up each of your respective winnings (their dollar values, not the bids). The bidding stops when one of you has acquired half (in value) of the items and the other person gets to keep the rest of the items.
Sell and Divide the Proceeds
If you don't want to do any of the above, then you can resort to the old age "easy way out" of selling the items and dividing the proceeds. Unfortunately, this method only works for items that have monetary values and can be easily liquidated.Share
11 July 2018