Strategic Solutions For Omaha Property Division
Going through a divorce involves navigating many complex issues such as child custody and spousal support. One of the most challenging aspects of divorce is property division, where you will need to divide all your assets with your spouse. Understanding how property division works in Nebraska can help spouses prepare for what’s to come and navigate their divorce more efficiently.
At Walz Law Offices, our experienced divorce attorneys can guide you through the necessary steps to protect your assets and secure a favorable property division settlement.
How Does Omaha Divide Property?
To understand how property division works in Omaha, it’s crucial to first understand the two main types of property:
- Marital property: This includes any assets acquired during the length of your marriage. It can include your family home, land, vehicles or a vacation property, but it can also be your bank accounts, furniture, jewelry or other personal items that you collected during marriage.
- Separate property: This type of property is anything you have acquired prior to getting married. This can be a business you started before marriage, valuable personal property like art collections or jewelry. Separate property can also include inheritances, even if you received it during the marriage, as long as it remains separate from your spouse.
When you go through a divorce, your marital assets are eligible for division. Nebraska follows the equitable distribution method of dividing assets, which doesn’t necessarily mean equal. Instead, courts will consider various factors to reach a fair and equitable division of all marital property.
What Factors Do The Courts Consider When Dividing Property?
Nebraska courts review the following factors during the property division process:
- The length of your marriage
- The age and health conditions of each spouse
- Each spouse’s occupation and income levels
- Each spouse’s current and future earning potential
- Each spouse’s education, employability, vocational skills and job experience
- Each spouse’s contribution to the marriage
- Each spouse’s debts and liabilities
- Whether there are any children or child support obligations
These factors can impact how your marital assets will be divided. Working with a skilled property division lawyer can help you negotiate a settlement out of court or present your case fully in front of a judge to ensure you receive a fair share of your assets.
An attorney can also help you navigate any complex disputes that may arise over different assets, such as dividing the marital home, businesses or retirement accounts. Large, high-value assets can be more complicated to resolve and require thoughtful consideration to reach a satisfactory result. A divorce lawyer will prioritize your goals and protect your rights during this process.
How To Prepare For Property Division
As with any part of your divorce, preparation is key. It can help you navigate the process more smoothly and stay in control of the situation as best as you can. The following steps can help you get started:
- Gather financial documents: Bank statements, receipts and other financial documentation are crucial for assessing your financial situation and how property division may impact you.
- Identify and value marital assets: It’s important to make a complete list of all your marital assets and determine how much each is worth. This may involve getting professional appraisals of assets such as a business, real estate and jewelry to learn their proper value.
- Consider mediation: Property division can be a complex and often contentious process. Going to court can leave the entire decision of property division up to the judge. Instead, you may want to try mediation or other forms of alternative dispute resolution to reach a favorable settlement as these methods can give you more control and ability to negotiate a more satisfactory settlement.
- Work with a divorce attorney: A divorce attorney with experience in complex property division can help you through the process of identifying your marital assets and developing a strategy that will yield positive results.
The divorce lawyers at Walz Law Offices can help you prepare for the property division part of your divorce proceedings with the care and personalized attention you deserve.
Consult With Our Divorce Attorneys Today
If you’re going through a divorce and need assistance with the complexities of property division, we are here to help. Our Omaha property division lawyers know how to handle these types of cases and will fight to protect your assets.
Call us today at 402-998-5044 for a free consultation or send an email online.