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property settlement, Lombard family law attorneysNo matter how much—or how little—you and your spouse may own, figuring out who should get what during a divorce is probably not going to be easy. You may find that you both have an attachment to certain assets, such as the family home or a particular car, which may not lend themselves well to being divided between the two of you. Regardless of how divorce may be presented in movies and on television, yours does not need to be played out with open hostility in a courtroom brawl. Instead, you can develop an agreement that recognizes the contributions made by both you and your spouse to the marriage and allocates your property in a way that meets everyone’s needs.

Inventory Your Assets

The first step toward a workable property settlement is understanding what is to be included. This means taking stock of everything you own and owe. Assets include real estate, vehicles, furniture, business holdings, investments, and, of course, cash savings, among many others. Debts are also important part of the agreement, as they can follow both of you for years to come if they are not properly addressed.

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