There is a simple method that is generally used to split the assets and debts of the marriage.  This method is generally a 50/50 split, however on occasions there are times where a different split is used.  In this occasion, the financial split will be different usually because of physical property.  The reason for this is so that the assets are split as evenly as possible.  

For example, if the wife is awarded a house that is worth 100,000 and is paid off, and there is no other house to give to the husband then the husband would be likely to receive the first 100,000 worth of bank accounts and retirement funds.  This would leave any funds left over for the wife and husband to split.  This would result in the split working out as 50/50 for all assets, but not for the financial aspects.  

A few things you can do to help ensure that the assets are divided evenly. 

 

You should maintain accurate records for all assets that are acquired during the marriage.  If you sell any assets, you should also keep track of those assets as well.  You need to ensure that all of the assets are accounted for.  

If there are assets of the marriage that are not accounted for then they are unlikely to be included in the divorce settlement.  If you have CD’s or stocks, you really need to ensure that you keep copies of all records pertaining to them.  Now it is very important to realize that there are some circumstances that appear where property is not split 50/50.  While these situations are rare, they do exist.  

The primary reason why this may occur is because funds from separate property was used to purchase additional property.  That additional property that is purchased is still considered separate property even during the divorce.  However, in addition there are times when the incomes of the spouses are quite different.  If this occurs and the type of divorce chosen is a fault based divorce it is possible for one spouse to be awarded more assets than the other.  

The reason for this is because the spouse at fault is being punished.  This can result in the injured spouse being awarded whatever the judge decides is fit.  It could be a very small amount, or it could be almost the entire collection of assets or any other number in between.  The choice is ultimately up to the judge hearing the case.  But this is often a very scary realization for many people.  They do not like the concept of counting on a judge to determine a fair settlement for them.  

If this idea does not make you very comfortable at all then you can try to resolve your issues yourself for your divorce.  Using either mediation or just talking to your spouse on your own, you may be able to come up with an agreeable split of the assets.  This is a much preferred method because it leaves both spouses much happier, and there is less risk of losing in court.  With the risk of losing in court looming on everyone’s mind many spouses decide that no matter what they would rather negotiate themselves.  

If this is an option that you explore you should strive to split the assets as close to a 50/50 percentage as possible.  It is important to remember that the 50/50 split does not always mean, one asset for you, one asset for me, it could equal out to two assets for you and one asset for me.  It all depends on the value of the assets to be divided.  If at all possible, try to avoid splitting assets such as houses and cars.  Instead, use other assets to “repay” your spouse so that there is no division of those assets necessary unless you plan on selling them and then dividing the proceeds of the sale.  

You should take some time when dividing the assets to ensure that you are dividing them in a manner that will ultimately make everyone as happy as possible.  If you rush through the process, you could later be upset and disappointed that you did not take more time to confirm your choices before rushing.