When a marriage begins to dissolve, most couples start planning for their separate lives. Unfortunately, it is not always so easy to pick up and leave. Many live together while separated. This may be due to children, or it may be because both parties own the family home and have nowhere else to go.
What can a couple do to make property division during the divorce process easier while still living together?
Agree on a date of separation
The date of separation is important to property division, according to the California Courts. Property includes:
- Real estate
- Bank accounts
- Pension plans
- Security deposits
- Life insurance
Any property that married couples accumulated during the marriage is community property. Property that a person acquired while single or after the marriage dissolves is separate property. Separate property remains with the single owner.
When it comes to property division, the courts pay attention to the date of separation. Any property acquired after this date is separate; therefore, the parties must agree on when they officially separated.
Stay on amicable terms
This may be difficult advice if couples find themselves fighting more often leading up to the divorce. According to Forbes, couples need to stay on amicable terms. Even if the terms of the divorce are difficult to process, mutual respect is still important.
Both spouses have a common goal to get through the divorce as efficiently as possible. Strategies include focusing on the goal together and choosing priorities to focus on, such as child support, custody or the division of assets. Mediation and collaborative divorce can help parties remain civil. Spouses should try to meet a resolution together.