How do I handle issues of property division in a collaborative divorce?

In a collaborative divorce in New York, issues of property division must be handled with the help of both parties’ attorneys, as well as specialized financial and mental health professionals. This team will work together to ensure that all assets and liabilities are documented and divided in a fair and equitable manner. Their roles are to develop a full financial disclosure and analyze all assets and liabilities of the couple. The team will also work to create strategies to divide the property such as liquidating assets and reallocating debt or making trades between the parties. It is important to note that in New York, legal custody of the children may not be exchanged as part of the property division process. Throughout the process, both parties should be open and honest about their financial situation and assets. Each spouse should keep detailed records of all financial information and have all documents needed to support the division of the marital assets. Additionally, each spouse should keep any records of the joint marital expenses for tax purposes and be prepared to produce documentation to support their claims. By following these steps, both parties can ensure that property division is handled fairly and equitably in a collaborative divorce in New York. The collaborative process allows each party to retain their financial privacy and seek to reach an agreement that is beneficial to both parties.

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How do I handle issues of property division in a collaborative divorce?

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