Two common situations that may necessitate the use of a property settlement lawyer are the following:

• If you and your spouse are separating or getting a divorce and there is a disagreement about the sharing of the property.
• If your parents or grandparents have passed on without a will and the children are fighting over the property left behind.

The following are the various steps that a property settlement lawyer takes to ensure that a property settlement is done as fairly as possible:

Assessment of Assets and Liabilities (Total Property Pool)

The first step is usually assessing the family's assets and liabilities to get a clear and accurate picture of the total value of the property in question. The property settlement lawyer can then start looking at other factors while using the total value as a basis.

Assessment of Direct or Indirect Contributions to the Property Concerned

Direct contributions mostly include financial contributions, while indirect contributions include things like inheritances and gifts. It is important to consider these contributions because any party who has contributed to the accumulation of assets or liabilities is fairly considered during settlement. He or she might deserve a larger share of the property.

However, other factors still have to be considered so that each party is content with the settlement decision made. Each decision has to be backed by a valid reason; for example, party A receives this portion of the property because he or she invested his or her own money to accumulate wealth.

Are There Any Non-Financial Contributions?

These include things like maintaining or improving the value of the property concerned or even caring for children. Such considerations have to be made because if, for example, the spouse caring for the children sacrificed work to offer the care, he or she made it possible for the other party to work hard and earn for the family. This in itself is a contribution that cannot be equated to monetary value.

Age, Health and Employment

Is there a vulnerable party in terms of age, health and employment? If there are children, is their well-being considered? As the property settlement lawyer assesses the best way to settle the property, he or she has to consider the elderly, ill and unemployed. Such individuals need to be taken care of, and during property settlement, they might receive a share of the property to help them live comfortably and treat, manage or change their state.

Property Settlement

After assessing the factors mentioned above, the property settlement lawyer develops a fair property settlement plan and shares it with the parties concerned.