1. Kids Come First
When you are dividing assets during a divorce, it is important to remember that the children should come first. If you are the non-custodial parent, you should make sure that your soon-to-be-former spouse has everything needed to properly care for the children. It may be tempting to try to keep things from your spouse out of spite. You have to decide if keeping the refrigerator from her, for instance, is worth your children not having properly stored food.
2. Do it Yourself
Work together to divide your assets. This will work if you and your spouse are still on speaking terms. Divide sentimental items first. Take turns picking items. Items from the man's family should go to him and items from the woman's family should go to her. Things for the kids should be stored or given directly to the kids. For the rest of the property, determine the value of each major piece of property. If you owe money on the item, factor that in to your value. Divide these assets so that each spouse has an equal share.
3. Mediation
If you and your spouse are having trouble deciding on who gets what, you should consider hiring a mediator to help you divide your assets. A mediator is an impartial third party who, with the help of you and your attorney, can determine a fair way to divide marital assets. A certified financial planner will sometimes be a mediator for dividing assets in a divorce.
4. Sell, Sell, Sell
If you and your spouse don't want the hassle of dividing assets, you can sell everything paid off, and then simply divide the money evenly. You can also put a portion of it away for the children if you have any and then split the rest. If you have major assets that you are still paying for, it may be possible to sell those, too, and then use the money to pay them off. Evenly split anything left over.
5. Judgments
If mediation is not possible and you and your spouse can't divide your assets on your own, you can let the court decide on the division. Keep in mind that if you choose to divide your assets in this manner, the judge's decision will be final. You will probably have little or no say as to who gets what. Consider this option as a last resort.
