How do I ensure that our assets are divided fairly in a collaborative divorce?

In a collaborative divorce in New York, it is important to ensure that assets are divided fairly between both parties. The first step is to create a joint financial disclosure. This document lists all of the assets that both parties currently own, as well as all liabilities (debts) and income. It is important to be honest and detailed in this document, and it should be signed by both parties. Next, both parties should explore the options for dividing the assets. This can include selling the assets and splitting the proceeds, or dividing assets in a way that is mutually agreed upon by both parties. It is important to be aware of the tax implications of any decisions that are made regarding asset division. Both parties should also consider mediation as an alternative to litigation, to help them reach agreements on the asset division without court intervention. Mediation is often cheaper and faster than taking the case to court, and may result in a more amicable and fair asset division. It is important to create an enforceable agreement that is legally binding in order to ensure that the asset division is fair and legally upheld. Each party should consider consulting their own lawyer to review the agreement prior to signing. Finally, it is important to understand the tax implications of the asset division, and that each party has an obligation to accurately report all income and assets to the IRS. A lawyer or accountant may be able to provide more detailed advice in this regard.

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How do I ensure that our assets are divided fairly in a collaborative divorce?

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