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Shankman & Associates Legal Center

Dividing your property: How should you proceed?

During your divorce, you may not be sure about how you want to divide your property. Maine does not have community property laws, which means that you can divide your assets equitably. Equitable is not equal, so you'll want to show why you deserve the assets that you're seeking.

In a property division case with equitable distribution, it's important for you to take note of the marital assets in your home. You should also note any assets that are digital or on paper, like retirement accounts or stocks. Take this list to your attorney, so they can get a good idea of the value of your property and how best to negotiate for what you want to keep.

How do you divide large property equitably?

How you do that depends on your preferences and your individual situation. If you and your spouse have a home, for example, you will need to get it valued first. Once you know the value of the property, you'll need to decide if you want to sell it or negotiate for the property in full. For example, you may want to keep the family home and give up other assets. On the other hand, if the home is worth $250,000, you might instead want to negotiate for a portion of that value.

Your attorney can help you negotiate for what you believe is fair so that you can finalize your divorce. It can take some time, but with support from your attorney, accountants and other professionals, it's possible to value your marital estate and negotiate for a fair share.

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