Things to consider as a property division agreement moves forward

Any split can lead to a property division dispute or obstacles to finding a fair and equitable settlement. For Missouri couples, there are certain details to consider first before agreeing to or signing a property division agreement. While each couple may be unique, certain aspects of an agreement can be quite common and should be realized ahead of time.

One common complication can be if there are minor children to consider. The needs of those children, particularly housing and transportation, can weigh heavily on who gets the house or a family vehicle. If there is a disabled child or disabled spouse, a property division agreement may have to reflect those individual needs when it comes to the house or certain specially equipped vehicles.

The status of finances or a shared business can also impact a property division settlement. If a business is set to expand or has significantly appreciated, the fate of that business can truly affect one or both parties. This holds true for any shared assets that may have increased in value as each party thinks about the future value of a certain item.

Even when a property division agreement is negotiated as amicably as possible, the outcome will impact the finances and lifestyle of both parties. Anticipation of this impact can be stressful and overwhelming. Missouri couples who take the time to consider factors unique to their situation before moving forward can help themselves alleviate that stress and have a better understanding of how their property division agreement will impact them directly.

Source: huffingtonpost.com, “A Few Questions to Consider in Divorce Property Division Situations“, Brad Reid, June 29, 2015