Should I divide my assets when filing a divorce?
Sometimes to expedite a divorce process, couples will say that they will divide their assets at a later time. We do not advise doing this because many times, if you wait to divide your assets, the assets will accrue in value. For example, if you own a home that is worth $500,000 in 2007 in 2018 that same house could be worth over $1 Million. If you had waited to divide your house until 2018, the amount of equity that you would have to pay your spouse has now increased from $250,000 to $500,000. Our advice is to complete the divorce once you initialize the process. Any asset can accrue, having proper legal representation can make all of the difference. Please call us for a free phone consultation on divorce or any of our legal services.