Monday, March 24, 2014

Dividing Up Your Assets During Divorce

By Norbert Higensen


Having a spouse in the military can be difficult, and unfortunately it can place a lot of stress on a marriage. Long absences for tours of duty and feelings of isolation can start to take their toll. It is no surprise that some of these marriages end in divorce.

Recognizing the One Similarity

First, get together and make a list of all your assets. Many couples find it useful to order them in terms of monetary value. As you do, you'll start building a sense of what you'll be dealing with and what pieces you want. From there, you will be ready to start splitting up your stuff. There are several different ways you can go about splitting up your assets. Here are a few of them:

It's a common misconception that in order to get a portion of a military pension, you need to have been married for at least 10 years. This isn't true. A court is free to divide up a military pension based on whatever it thinks is fair. The "10-10 test" has to do with the Defense Finance and Accounting Service (DFAS), which is responsible for making direct retirement payments to former service members. The DFAS will provide direct payments to an ex-spouse if the couple had been married for 10 years of overlapping service.

If things are a little more tense, you can each take turns choosing one item from the list. This is where listing items by monetary value comes into play. This system should result in a fairly equal split, and perhaps with a few trades, you'll both be satisfied.

Making an Effort to Reconcile

Whether you're considering divorce or separation, you should make an effort to overcome your problems as a couple before you take either option. Some couples have done so much damage to their relationship that they have reached the point of no return. This is why couples have to work on their relationship throughout its lifespan. We all like to think that there's nothing going wrong because we have a fear of confrontation. We know that if we bring up the sore subjects, it will lead to conflicts that will create more significant problems later on. If we solved these issues when they popped up, we would save ourselves from all sorts of grief later on.




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