In addition to the assets, other assets must also be divided in the event of a divorce. In a prenuptial agreement, it is taken into account who purchased the assets. When dissolving a marriage in community of property, the joint assets must be divided by mutual agreement. This is easiest by determining the value of the assets in advance. The ex-partners must first agree on the valuation of the assets to be divided. This does not have to go so far as to give everything a value, but both must at least agree on the total value indication.
One gets the surplus value, the other gets to keep the savings
It is up to the ex-partners themselves to make a fair division. Your own home must be appraised and the value of savings policies must be requested. The value of the car must be determined and antiques must be distributed. It is also not surprising that the division often causes disagreements between the ex-partners. To avoid incurring high costs, it is wise to arrange it mutually, and not through lawyers or a mediator.
Who will continue to live in the house?
The joint home often has to be sold because one of the partners is financially unable to meet the monthly costs. If one of the two continues to live there, the ex-partner must be bought out. The remaining debt on the home and the sales value of the house at the time of divorce are taken into account. The value built up in the mortgage (in a savings policy or bank savings account) must also be included in the calculation. This may also mean that there is no surplus value left, but a debt. This may be the case if the mortgage debt is higher than the value of the house. Then the partner who keeps the house must receive compensation from the ex-partner.
Who gets the household goods?
Money, life insurance and other financial values are easy to estimate. The division of household goods is a small part of the whole, but often causes great tension. This is mainly due to parts of the estate to be divided for which the value is difficult to determine. Some see it as an antique while others estimate a very low value. The division of the contents is often more difficult than the division of the rest.
Who gets the household goods if both partners have had separate assets during the marriage?
In certain cases, partners who have entered into a prenuptial agreement each have their own assets and property. In practice, however, they have purchased furniture from the joint bank account, which means they are jointly owned. In principle, the items are then the property of the person who used them. This may be different if the other partner can demonstrate that he or she has a greater right to the items. The remaining amount on the joint account must also be divided among themselves, unless it can be justified that another division is fairer.