How To Divide Up Assets And Debt In Divorce

July 31, 2012 12:00 AM
How To Divide Up Assets And Debt In Divorce
" BOSTON (CBS) – I have never met a non-warring couple when it comes to a divorce. If there is money involved people behave poorly!

Before you start this process educate yourself about Massachusetts’ divorce laws. The internet is a great place to do research. Type in “Massachusetts’ divorce laws” for lots of information at your fingertips. Head to the library or bookstore as well.

The only people who gain in a nasty divorce are the lawyers. Try being civil and working it out.

With some divorces the couple is splitting up debt, with others there could be a sizable chunk of assets to divide. The divorce should be fair and equitable and you may very well start out thinking it will be but then things change as each party decides what’s important and what’s fair and equitable.

List all of your debt. Whose debt is it? If you brought debt into the marriage and you still have school loans at the time of your divorce they are yours and not communal debt.

List all of your assets. It’s important to have a value next to everything on the list "

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