As you move forward with a divorce, it will not be long before matters of property division are discussed. In addition to assets, many types of debt will be divided as well.
Since most couples own many types of personal property, you need to make a list of what could come into play during a divorce.
If you brought a particular piece of property into the marriage, it may not be subject to division. Of course, this is something to discuss with your lawyer.
Here is a list of some of the types of personal property often divided in divorce:
- Home furnishings
- Antiques
- Artwork
- China
- Coin collection
- Collectibles
- Guns
- Computers and other electronics
- Clothing
- Furs
- Motor vehicles
- Campers
- All terrain vehicles
You are sure to own some of these types of personal property. Maybe you will get to keep everything you have your eye on. Maybe you will have to compromise along the way. You will never know until the divorce process moves forward and you begin to work out this detail with your former spouse.
There are many types of personal property divided in divorce, so you need to become familiar with everything you own before this process begins. This is the only way to ensure that you don’t get mixed up along the way.
When you make a list of personal property, you can rest assured that you and your spouse discuss it during the divorce. You may not always like the end result, but it’s good to at least know that no stone was left unturned.
Source: FindLaw, “Checklist: Dividing Marital Property,” accessed June 03, 2016