It makes sense to “pick your battles” when it comes to property division. Although some assets could prove vital in your post-divorce financial security, others are relatively meaningless. Spouses must be careful not to fall into the trap of fighting for every single asset in the marital estate, as this approach can drastically increase your legal fees with virtually no payoff. Unfortunately, many spouses feel strongly about certain sentimental assets – and it can be difficult to adopt an emotionless, professional approach to the psychological turmoil of divorce. To determine which assets you should devote your full attention to, it might be best to consult with an experienced family law attorney in North Carolina.
PetsAlthough it might seem difficult to say goodbye to a family pet, fighting for a dog or cat during divorce can quickly spiral out of control. If your ex owned the animal before you married them, they will likely keep this “separate property” anyway. If you acquired the animal together during marriage, only one spouse can continue the keep the animal.
Unlike other assets, selling the animal and splitting the cash proceeds simply does not make sense. Ultimately, it makes more sense to avoid this legal battle entirely and focus your attention on more important endeavors. If you feel strongly about the animal for sentimental reasons, it may be possible to organize scheduled visits on a monthly basis. Note that most animals have limited lifespans, so it does not make sense to fight tooth and nail for access to a dog or cat that may pass away within a few years. If you are serious about keeping hold of your pet, you may be able to negotiate with your ex with help from a lawyer. But be prepared to make concessions.
VehiclesA vehicle is generally not worth fighting over in a divorce. One car or truck is as good as another, and you can simply use part of your divorce settlement to purchase a new vehicle after your divorce has been resolved. For example, your ex might keep the vehicle and pay you 50% of the asset’s value as a “buyout.” You can then use this payment to purchase a new vehicle. Although your new vehicle might not be as expensive as the previous one, it is important to adopt a logical perspective during property division. As long as the vehicle is capable of getting you to work on time, it serves its purpose.
The exception is a vintage, high-value vehicle. In this case, the vehicle might be one of the most valuable assets in your marital estate – and it could be worth fighting over.
JewelryIn the same way, jewelry can easily be re-purchased after the divorce is over. You might feel a strong sense of attachment to a necklace or bracelet, but you must also consider the legal fees associated with fighting for this property. Does it make sense to spend $10,000 in legal fees to keep hold of a gold bracelet worth $3,000? Focus on more important aspects of your property division process, and you simply buy yourself new jewelry after the divorce. The exception is a piece of jewelry that has special sentimental value – such as a ring that has been passed down through the generations.
Fine ArtArt could be more trouble than it is worth, especially if its value is not clear. The cost of appraisals can be high, and you might benefit more from simply letting your ex keep it. Again, you can always purchase new art after your divorce is over.
FirearmsFirearms can be incredibly complex during a divorce. If your marital estate contains several high-value firearms, you might be tempted to fight for each one. However, the collection should probably go to the spouse who has the most experience with firearms. If one spouse does not have the necessary licenses to own these firearms, you might have to consider complex legal measures – including holding the firearms in a trust.
Find an Experienced Divorce Lawyer in North CarolinaIf you have been searching for an experienced divorce lawyer in North Carolina, look no further than Arnold & Smith, PLLC. We know how difficult it might seem to “give up” on assets that seem important. Each divorce is slightly different, and spouses should carefully assess each asset in their estate to determine the right strategy. These calculations are best performed alongside an attorney, and online research may only provide basic information that does not apply to your unique situation. Reach out today to begin your equitable distribution process with confidence.