What to Ask For in Your Divorce Mediation Asset Division

Uncontested Divorce Mediation

Posted May 16, 2024

Denver divorce mediation is one of the most practical ways to end a marriage. If you are looking to file an uncontested divorce with an efficient division of assets and reasonable terms, mediation is always the right approach. If your spouse is also ready for a well-reasoned discussion and a few compromises in order to live well after the divorce, you’re ready to get started.

Of course, the one thing that most people worry about when approaching divorce negotiations is what they will get – and what they will lose. One of the best ways you can prepare for your Denver divorce mediation sessions is to make a list of the things you want to keep. What should you ask for in the divorce? How can your Denver divorce mediator help you get the things that you want the most?

Which assets are the most valuable? Which items would you hate to live without, even though you acquired them during the marriage? At Split Simple, we’re here to help you achieve the most satisfying divorce outcomes possible through Denver divorce mediation. We can suggest the smartest things to ask for during your divorce asset division.  

Splitting Assets in DIvorce Mediation

The most important thing to know about asset splitting is that everything you ask for will need to be balanced on the scales. Each item you ask for will be matched in cash or items of equal financial value that your spouse will receive.

Tally up everything that you want to keep so you know the true weight – not just the sentimental value – of what you would like to ask for.

1. Your Retirement Accounts

Retirement accounts are part of the asset split in a divorce, but each person will take a penalty if retirement funds are cracked open before the designated age. One of the first asks should be to keep your retirement accounts whole and untouched. Asking this on behalf of both parties can also provide a gesture of goodwill if both of your retirement accounts are considerable and should be preserved.

2. Your Personal Vehicle

Many well-off couples have two cars, each with a primary owner.  Your car is the one you drive most often. The radio presets are all your favorites. The internal computer is programmed with your apps and preferences. The seat is all set up exactly the way you like it. And you would hate to give up the car just to balance financial scales. Ask for your car, and be prepared to give your spouse assets of equal value. If they have a car of similar value, then you’re all set.

Along the same lines, if your car or their car is of greater value, you can correct the balance with cash or with other personal items of value.

3. Your Wardrobe and High-Value Personal Items

Did you know that your wardrobe and other high-value personal items are calculated? A nice business casual wardrobe can be worth several thousand dollars. Throw in formalwear and a few designer accessories (from jewelry and handbags to ties and cufflinks), and your wardrobe value may be considerable.

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High-cost cosmetics and other valuable personal items should also be considered personal assets, not just “your stuff”.

For this reason, be prepared to formally ask to keep all of your personal items. Especially if your spouse has not needed (or wanted) as valuable a personal collection.

4. Valuable Investments

Are there marital investments? Did one or both spouses by into stocks, businesses, land, or rental homes? Now is a good time to have investments, especially land while interest rates are high. While you may or may not want to “keep the house”, it is a good idea to keep at least some of your valuable marital investments.

Study your investment portfolio and choose some of your favorites to keep. If you ask to split the portfolio with your spouse and have a few preferences, your ask will likely be granted.

5. Your Personal Savings

Savings you put together during the marriage are considered marital assets and could be split. However, just like your personal retirement accounts, you can ask to keep a savings account that you accumulated for personal reasons from your own income. If you have spent years building up a savings account for your dream vacation or the occasional big gift to yourself, that can be an essential part of your personal motivation. Keeping your savings account intact may be important to you, and that’s okay.

If you can balance the value of the savings account easily with other assets, then by all means ask to keep the money that you have put aside for your own use.

6. Your Favorite Artwork

Many couples collect artwork for the house and, over time, may find some truly valuable pieces. What to do with the artwork can be an important decision. If you have a favorite piece, or several favorite pieces, it’s perfectly alright to ask your spouse and Denver divorce mediator to let you have them. All you need to do is balance their value in what your spouse receives. All the better if your spouse also has a few favorite pieces and you can happily split your collection.

7, Personal Projects and Hobby Supplies

Lastly, remember to request any supplies that are part of your personal hobbies and projects. Do you like woodworking? Don’t forget to include the equipment and supplies in your garage woodshop, which has some significant value. Restored an antique armoire by hand? You can ask for that valuable piece of furniture because it has special meaning. Spent years putting together the ultimate yarn and needlework craft room? Value your craft room and add it your half of the ledger. Chances are, your spouse will have no objection to receiving slightly more cash or an antique you don’t care about in return.

Know What to Ask For in Divorce Mediation

During your Denver divorce mediation sessions is the perfect time to compromise with your spouse on the asset split. Your Denver divorce mediator will help you keep the ledger balanced while each of you ask for the things that mean the most. Personal items, favorite possessions, and important accounts can all be preserved. Especially if you are willing to sell or trade non-sentimental assets to even the score so that both spouses have the asset half that is most satisfying to them.

Split Simple can help you make sure your divorce is productive and fair with a few efficient Denver divorce mediation sessions. Our goal is to help both spouses walk away with the resources and personal items necessary to successfully start two independent lives. Contact Split Simple today for your initial consultation today.

Split Simple

1624 Market Street #202

Denver, CO 80202

720-501-4600

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