Posted on June 18, 2019
common questions for Brentwood divorce mediation

Today, divorce mediation client in my Brentwood office asked me this question, "Do we divide the assets and debts as of the date of divorce or the date we separated?"  Since this is a legal question, I referred them to discuss this with their attorney.

But, I also asked them, "What did they think was fair?"  Their answer was, "I think it is fair for us the divide assests and debts as of the date of divorce".  This is the date  most of my clients use to divide assest and debts.

But, there are exceptions to every ruel and each case is unique...  For example, in a recent case the husband lost his job just before the divorce papers were to be signed.  Since he was the breadwinner and supported the family for 25 years, the wife agreed to hold off on signing the divorce papers until the husband had a full-time job.  Why should they divide the accounts now if it may take him 6 months to find employment?  Why should the person who supported the family have to use up his savings?  So, this couple made the choice to hold off on signing the divorce papers / divding the estate and this was the right choce for their family.  Another family may have decided to sign the divorce papers and divide the estate despite the husband having a job...

Every family is different and the history and needs of families are different.  It is important to keep these things in mind as you navigate the waters of divorce.  It is equally important to work with an attorney who will provide you with legal advice and common sense.



Posted in: Finances