Division of assets and debts often causes disagreements during a divorce. Making good agreements in advance creates clarity and prevents problems. In the event of a divorce, the ownership relationships must first be determined. Was the marriage concluded in community of property or on prenuptial agreements? In the case of prenuptial agreements, the method of division is highly dependent on the content of these conditions. In a marriage in community of property, all assets and debts are joint assets. An exception is formed by assets obtained from a donation or an inheritance with an exclusion clause.
Difference between prenuptial agreement and community of property
The law sets out how the mutual relationship will be when concluding a marriage. The assets and debts of both individuals are combined into one joint asset. In certain cases this is undesirable. By drawing up prenuptial agreements before the marriage with a notary, the partners can record conditions that deviate from the law.
What is an exclusion clause?
In the case of an acquisition from a donation or an inheritance, it can be notarially recorded that the asset in question will not end up in the community of property, but that it will form a separate asset outside the community. This clause is included to prevent part of the amount from ending up with the ex-partner of the recipient of the gift or inheritance in the event of a divorce.
Biggest problem in the division: the house
A house is often purchased on the basis of two incomes. The situation therefore arises in which one of the parties cannot afford the monthly costs. In addition, the departing partner must also be compensated with regard to the surplus value in the house and the accrued value in the insurance policies (before repayment). If there is no excess value, a problem also arises. The house can be sold, and the loss must be borne by both. The ex-partner who may take over the house must be compensated by the departing partner for the losses that one partner will continue to incur.
Divide money and assets
Dividing the money is simple, everyone gets half. The other assets are more difficult to divide. Each partner should make a list of assets they want. This list must then be reviewed together and the assets must be valued by both parties. By linking an amount to it, it is easier to divide.
Alimony agreements
In practice, it appears to be very difficult to make agreements about alimony. In the event that one of the partners has to apply for social assistance benefits, the municipality will also become involved in the maintenance obligations. To determine the amount of alimony, assistance from, for example, a mediator must be sought. The maintenance obligation applies for a period of twelve years, but there are plans in the government to shorten this period. If the marriage lasted less than five years and no children resulted from this marriage, the duration of the alimony obligation is equal to the duration of the marriage.