Preparing for property negotiations with your ex

There is virtually no aspect of the divorce process that is easy for individual spouses to navigate. Yet, it is undeniable that some aspects of this undertaking tend to be more challenging than others. For example, if you and your spouse need to divide significant marital assets, it is unlikely that this process will be straightforward.

As a result, it is important to invest time in preparing for property division negotiation sessions. Otherwise, you could find that you’re operating from an uninformed position, rather than operating from a position of strength “from go.”

Getting ready

To start, you’ll want to gather all applicable financial documents. This may include records of bank accounts, investment portfolios, real estate holdings, business interests, retirement accounts and records related to the ownership of personal property like cars, art and jewelry. Having a complete picture of your assets and debts will allow you to enter negotiations with a clear sense of what needs to be addressed.

Especially in high-net-worth divorces and/or divorces involving the financially abusive behavior of one spouse, it is common for one spouse to have more knowledge of a couple’s financial situation, so it is essential to ensure all assets are disclosed. If you are unsure about the full extent of your marital assets, it may be necessary to hire a forensic accountant to help uncover any hidden or overlooked assets. You also may need to hire help with properly valuing certain valuable assets.

It’s also important to understand that family law judges in the state of Connecticut employ an equitable distribution approach to litigated marital disputes. Therefore, if you can’t reach a fair agreement during negotiations, you won’t need to simply accept what your spouse will agree to. You can alternatively seek a fair resolution to your dispute in court.