Not all property is valued or taxed in the same way; therefore, the process can be long and confusing without the help of a knowledgeable attorney at your side. It’s important to consider that even though different financial accounts may be have the same current value and/or balance, the account value for purposes of a division of assets, may vary based upon the nature of the account in question. For instance when dividing retirement assets, as opposed to more liquid assets such as bank accounts, any withdrawals made will be taxed to the transferor absent a properly prepared Qualified Domestic Relations Order being entered by the Court. Regarding real estate property, if one spouse is granted full control of the marital home, for example, or vacation properties, then he or she is usually expected to pay the expenses on those properties during the pendency of the divorce, including but not limited to the payment of the mortgage, real estate taxes, homeowners insurance premiums, and routine maintenance Debt is another matter you will need to be well-informed about when dividing real and other property. No matter who is awarded the property, the debt owed to the lender is still the responsibility of both parties, if the property was jointly owned. This means in the event the awarded party cannot fulfill his or her payment obligations, the bank or other entity holding the debt will expect the second named party to fulfill the payment obligations. If you’re like most families, you have