How to divide property during a divorce
How to divide property during a divorce?
Property division is sometimes one of the most controversial aspects of divorce, which is a legal procedure that comprises the termination of a marriage. Understanding how property can be divided in a divorce is crucial since it can be a difficult and drawn-out process. The many approaches to splitting property during a divorce will be covered in this essay.
1. Common property
According to the community property system of a property split, regardless of who earned or bought an asset during the marriage, both spouses are said to own it equally.
2. Equitable distribution
The most typical way to divide assets during a divorce. It is utilized in most US states, including Florida and New York. By considering aspects including each spouse's earning potential, financial demands, and contributions to the marriage, this strategy entails distributing the marital assets fairly and equitably. This implies that the property will be divided in a manner the court deems fair, though not necessarily equal.
3. Mediation
In the mediation process, both spouses collaborate with a disinterested third party to agree on the terms of their divorce, including how their assets would be divided. A more individualized and amicable property partition can be achieved through mediation, which is less expensive and contentious than going to court.
4. Collatorative law
Collaborative law is a different approach that can be used to split assets in a divorce. To negotiate the divorce details, including the distribution of property, each spouse works with their attorney and a group of additional experts, including financial and mental health doctors. The cost of this approach may be more than that of mediation, but it may also lead to a more thorough and individualized partition of property.
Robert Zhang 
Steve Li 