Dividing Personal Property in a Divorce: Pets & Houses

 Posted on October 25,2024 in Business Law

Divorce can be an overwhelming and emotionally charged process, especially when it comes to dividing personal property. Among the most contentious issues are the family home and beloved pets. Roughly half of U.S. marriages end in divorce, and one of the top questions people have is how to fairly divide assets. This post aims to guide and clarify how to handle these important matters.

Dividing Personal Property in Divorce

In many states, the law states that assets acquired during the marriage are considered marital property, meaning they must be divided equitably (though not necessarily equally) in a divorce. Assets acquired before the marriage or as a personal gift or inheritance are typically deemed separate property.

Critical Considerations for the Family Home

When dividing personal property, deciding what to do with the family home is often one of the first issues addressed in a divorce. Here are some key factors to consider:

●     Who Wants the House? Determine if either spouse wants to keep the home. If so, whether they can afford the financial burden is crucial.

●     Equity and Affordability: Does the house have equity? Can the spouse who wants to keep the house afford to buy out the other's share through cash or asset transfer?

●     Refinancing: Can the spouse keeping the house refinance to remove the other from the mortgage? With rising interest rates, this can be a challenging prospect.

●     Both Want the House: If both parties want to keep the house, it might need to be sold. Considerations include necessary improvements, realtor selection, and splitting proceeds.

Dividing Personal Property and Pets

Once decisions regarding the home are made, the next step is dividing personal property, which includes everything from furniture to pets.

Pets in Divorce

Pets are often treated as part of marital property, but deciding custody can be complex due to emotional bonds. Here are some factors the court may consider:

●     Marital or Non-Marital Asset: If a pet was acquired before the marriage or as a gift, it might be considered non-marital property.

●     Care Considerations: The court evaluates who has been the primary caregiver—feeding, vet visits, exercise, and overall care.

●     Bonding: If children are involved, the pet’s bond with them can influence decisions. Courts may establish "pet plans" similar to custody arrangements.

●     Financial Responsibilities: Both parties might be required to share expenses related to the pet's care.

Keeping Matters Out of Court

While court intervention is a last resort, it is sometimes necessary for dividing personal property. However, logical and fair negotiations outside of court are encouraged. Emotionally charged decisions can be mitigated by keeping the family and pet's best interests at heart.

Contact Experienced Divorce Attorneys for Guidance

Divorce presents many challenges, but dividing personal property does not have to be insurmountable. If you are facing these issues, seek advice from professionals who understand the emotional and legal complexities. Our firm specializes in achieving peaceful resolutions and helping clients move forward with clarity and fairness.

If you have questions about your divorce settlement or need guidance on dividing your home, pets, or other property, do not hesitate to reach out. Schedule a consultation with us today, and let us find the best path forward together.

Ariano Hardy Ritt Nyuli Richmond Lytle & Goettel, P.C. (AHR), is at the forefront of family law practice. As Fellows of the American Academy of Matrimonial Lawyers, our family law attorneys have achieved the highest level of recognition for their knowledge of the field. AHR clients appreciate our guidance. With over three decades of experience, we are trusted counsel on these issues. Contact our office for an initial consultation by calling 847-695-2400. We serve clients in Kane, McHenry, Kendall, DeKalb and DuPage Counties.