If you and your ex shared a lot of assets, you may fear making a mistake while divvying them all up. But when there’s a large pot to split, property division can end up taking a lengthy amount of time to resolve. This may leave you wondering how particular you should be about the process.
Afterall, what happens if you decide to change your mind? Can a decision be omitted later on? Here’s how final property division can be.
Having second thoughts
Property division may call on you to make some big sacrifices. Pets, vehicles and antiques are just a few examples of assets that may hold more value than their monetary worth. But, if you’re having second thoughts about any of these decisions, you’re not likely to be able to take them back unless your ex agrees.
For this reason, it’s a good idea to categorize the assets that are most important to you as well as those assets that you think may be of high value. Using an appraiser can help you make sure antiques are valued appropriately to make the most informed decision you can.
If you can prove that your spouse had hidden assets during property division, you may be able to request a new property division hearing in court. However, you would need to be able to demonstrate that your spouse hid a large number of assets that would have made an impact on the property division decisions made.
Examples of ways a spouse could hide assets include:
- “Gifting” a brand new boat to a friend and then getting it back after proceedings
- Hiding an expensive asset in a storage unit
- Tying up funds in a bank account in another country
Making the best decision
The best way to avoid making a decision you’ll regret is to make the best deal in the first place. By working with a professional, you can feel assured that you’re getting thorough, comprehensive help making a fair deal that appeals to your interests during property division.