Search Site

How You and Your Spouse Can Collaborate on Asset Division

Want to maintain some level of control over how you’ll split your assets after your divorce? You’ll need to be able to work with your spouse to craft your own agreement rather than leaving it up to the court.

The prospect of collaborating on such a serious endeavor when you are not on great terms might seem overwhelming, but there are ways to make it more feasible. Here are some tips.

  • Create a property inventory: List out all the assets you and your spouse own together. This should include physical assets, bank accounts, insurance policies, real estate, retirement accounts, pensions and anything else of value. Determine which items you can both agree will go to one party so you can focus solely on assets where there will be a need for negotiation. Classifying property as marital versus sperate can help you pare down your list of items that you will need to discuss.
  • Value the property: To create an equitable property division, you will need to have an accurate valuation performed on your property. Try to find objective sources for valuing property. For vehicles, for example, you can use Kelly Blue Book. You can find professional appraisers for certain high-value items, like real estate, artwork or collectibles.
  • Consider debts: Remember that you will also be dividing debts. Determine who has marital or separate debts, and make sure you have a plan to deal with creditors if they come after you for payments that are not your responsibility.
  • Get it in writing: Every time you and your spouse reach an agreement, make sure you get it in writing and have an attorney review the agreement before making it legally binding. This will ensure you do not enter into an arrangement that puts you at a disadvantage or results in you giving up too much.

For more information about collaborative divorce subjects, contact an experienced Minnesota divorce lawyer at Appelhof, Pfeifer & Hart, P.A.

Our Attorneys
Client testimonials
  • "Tori had a thorough understanding of my situation and made excellent recommendations to resolve my concerns. She was persistent on communication and handled everything in a very timely manner. I would definitely hire her again in the future if needed." - M.K.

  • "With Appelhof, Pfeifer & Hart, P.A., it is like having a family physician. They are all knowledgeable, thorough, comforting, and the only call I need to make for all my legal needs for many years to come. No matter what the matter, I totally trust their advice and commitment to me and my family." - J.N.

  • "Mary from APH Law helped me thru a difficult divorce. She and the entire staff was there for me every step of the way helping me on what to do next. They listened to what I wanted and helped me achieve what matter the most to me in the divorce settlement." - Dana C.

  • "I chose APH after my initial consultation with Mary. I felt my best interest would be represented. The entire process went excellent, the attorneys and staff communicated effectively and efficiently with me throughout the process as they needed to. Being new to the legal process and verbiage, they walked me and talked me through the next steps and the jargon, I felt completely comfortable and represented. I hope I never have to use legal services again but if I do I will call Mary at APH Law and know that I will be taken care of." - Jeff M.

  • "Divorce is a time of emotion and stress. Mary Pfeifer , My lawyer was professional and compassionate. She was very informative through the process. Her insight helped me in my decisions. She worked hard to obtain a settlement which was fair to both parties.Though, I hope I won't need her help again. It is reassuring to know a good person that is willing to help." - Rod S.

  • "I first came to Ms. Jacquelyn Lutz of Appelhof, Pfeifer and Hart in October of 2016. It was definitely the worst time in my life and she compassionately spoke with me about my options. Ms. Lutz thoroughly explained the laws, statutes, process and what to expect going forward. What was supposed to be one case, turned into three intricate cases that took a huge toll on me and my family. Ms. Lutz represented me in court on all three cases with a vast knowledge of the laws and how to proceed accordingly. During all three cases she kept me informed, calm, gave me resources to utilize, and (most important) gave me a realistic view of what may come next. Ms. Lutz knew each case required a great deal of knowledge and creative thinking on how to legally proceed forward with each case. My family and friends are forever grateful for the amazing representation by Ms. Lutz. I highly recommend Ms. Lutz for anyone needing or considering superb representation for any kind of family law. " - M.H.


Contact us

Quick Contact Form