How you and your spouse divide property is largely dependent on your circumstances. In many cases, separating spouses retain their separately owned property and divide their jointly owned property. Below are some suggestions to help you get started with the division of shared assets process:
1. Create a list of all your assets
List all assets you own jointly. Consider your vehicles, personal items, such as electronics or jewelry, and any real estate that isn't your matrimonial home. You can find a list of assets to consider in this property division checklist.
2. Appraise the value of your assets
Put a price on each asset that you're distributing. Consider seeking an expert opinion for more significant assets, such as real estate or anything else that may be difficult to value.
3. Decide the division of property
Determine whether there's a logical owner to certain property. Go through your list of assets and choose who has a reason for receiving the item. You may want to consider exchanging one larger item for several smaller items to ensure an equal split.