If attorneys have to help you work out who will get the furniture and the wedding china, they may charge more than it would cost to replace everything.
Here are some ideas on how to divide your personal property:
- Meet Halfway Method: Divide financial assets (bank accounts, stocks and bonds, etc.) equally between each party.
- Balanced Method: One party takes an entire lot of furniture while the other party takes the car.
- Easy As Pie Method: One party prepares two lists that divide the assets equally and then the other party gets to choose which list he or she wants. It is important to try to keep sets together (furniture, tables and chairs, bedroom sets, etc.). This approach can be very helpful for short-term marriages where wedding gifts need to be divided.
- Divide And Conquer Method: One party places a monetary value on each community item and the other chooses which one they will take at the stated value up to one-half the total value.
- Alternating Method: Both parties take turns choosing one community item at a time.
- Equalizing Payment Method: One party agrees to receive less property (furniture, dishes, etc.) in exchange for a payment from the other party.
- Take It Or Leave It Method: One party places a value on an asset and the other party can either let the first party have the asset, or take it themselves as part of their share.
- Appraise It Method: The parties choose an appraiser to value certain items. The parties then alternate selecting these items until they have acquired their share.
- Closeout Sale Method: If there are items that cannot be agreed upon, sell the items and divide the proceeds to achieve an equal distribution.
- The Envelope Please Method: Each party enters a bid for particular items. Each bid is opened at the same time and the highest bidder gets the items. The item’s dollar value is then added to the winning bidder’s total.