When a couple divorces, the two parties must inevitably decide how much of the pair’s shared property and assets should be assigned to each.

Generally speaking, the court divides the valuation increase of assets over the term of the marriage equally between both sides, but not necessarily the assets themselves as such. In actuality, property division starts with calculating “net family property”.

That process begins with finding the total asset value on the date you and your spouse separated. From that, deduct all personal liabilities. After that, deduct your personal asset value on your marriage date. As needed, deduct assets such as life-insurance proceeds, gifts given to you by third parties, personal injury awards and any inheritances. Finally, add all liability values as of the date of your marriage. You now have your “net family property” value.

Whoever has the higher net family property value must pay an “equalization amount” to the other spouse. Typically, that’s half the difference in value between respective net family property amounts.

Often times, the property separation isn’t such a simple matter of math. Both spouses will attempt to raise some point of contention or another for receiving a greater share. Sometimes, it’s done out of a simple desire for greater assets. In other instances, it’s a matter of one side or another wanting to do the other harm in parting.

A lawyer versed in Property Divorce and the possible advantages, loopholes or exclusions can recognize when you may be able to hold onto certain assets to which your spouse may claim an entitlement.