Before you start negotiating the details of your divorce settlement, make sure to know what is your wife’s legal entitlement to in the event of a divorce. A common misconception is that both parties will receive equal amounts of the assets. However, most assets are divided fairly and equally. It all depends on what you both need more. If the house you bought was the wife’s, she may get half of the value of it as well as other assets.
While the two of you both have the right to share the equity in your marital home, the division of the equity will depend on how much each spouse owns. However, you can still negotiate about this and other financial matters through the use of an appraiser. The appraiser’s report can then be used in future negotiations for your settlement. Once this part is finalized, you can then work on the other financial settlement.
If you have children together, you may want to try and get more of the marital assets. Some husbands try to keep more than their fair share of the assets. In such cases, a wife will likely be entitled to more assets and capital, as well as transportation and shelter for the children. This will be dependent on whether or not you have custody of the children. Your spouse will also likely want to make sure that you can take care of your children after the divorce.
