Understanding Your Property Settlement
 Generally,
property is divided 50/50 between the spouses. However,
the fault of one spouse may bring about a different
division.
If the parties cannot agree, a settlement is reached
after negotiations with court-appointed personnel. The
judge can appoint a mediator, the Friend of the Court,
or an assistant to help with the negotiations. If the
appointed personnel aren't successful in reaching a
settlement, the judge decides.
As always, never accept a settlement until you are
absolutely sure that you understand the agreement as
written or placed on the court record. Property settlements
cannot be changed, except in cases of fraud, clerical
error, mistake, or gross unfairness at the initial trial.
If your property includes retirement or pension plans,
you may ask your attorney to explain your rights in
dividing them.
There are special rules for property owned before the
marriage, was inherited by one spouse, or was received
as a gift by one spouse. Discuss such situations with
your attorney. |
