The best divorce outcomes are the result of targeted strategies. Spouses preparing for property division negotiations or economic mediation can navigate the process more calmly and effectively if they set specific goals and priorities before meeting with their spouse.
Doing so requires a degree of introspection. Asking the three questions below while setting property division priorities can help people avoid unnecessary conflict and wasted time.
1. Does this priority help with post-divorce rebuilding?
Financially rebuilding after divorce can be a complex, lengthy process. Spouses may prioritize keeping specific assets that could help them maintain their financial stability. Assets that generate revenue, limit regular costs or provide tax benefits may require special consideration when setting personal goals.
2. Is there a sentimental attachment here?
People may allow their emotional reactions to certain items to guide the negotiations during divorce. Items with sentimental value can be worth retaining. Spouses should seek to identify the assets that have the most emotional value. They may also need to question whether the sentimental value comes from the marriage or from other relationships – for example, with children or extended family members.
3. Who can better utilize this asset?
Some assets can generate revenue or meet practical needs. However, the chances are good that only one spouse may want to retain tools used for auto maintenance or a cutting-edge sewing machine, regardless of their economic value.
Determining what assets are worth and then focusing on fair terms based on personal priorities can help people pursue the best property division settlements possible. Spouses who set priorities in advance can keep things calm, making an amicable settlement more likely.