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Divorce division of assets

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Read how the division of assets is regulated, which deadlines and factors have to be observed and what is meant by assets .

THE DIVISION OF MARITAL ASSETS AND MARITAL SAVINGS

The division of assets is regulated in § 81-91 EheG and requires that the marriage between the two spouses has been legally divorced, annulled or declared null and void.

The division of assets takes place either amicably as part of an amicable divorce or at the request of one or both parties in the dispute, whereby it also comes into play, for example, if instead of assets there are only debts.

The law assumes that the division is in kind, i.e. the division of the existing assets between the former spouses. Only in the event that such is not possible or feasible, a compensation payment can be considered.

It is important that the application for division must be submitted within a so-called preclusive period of one year after the divorce decree becomes final. If you miss this deadline, reinstatement is no longer possible and the right to apportionment is forfeited.

Both the marital assets and the marital savings are included in the estate to be divided. Useful assets are understood to mean all movable and immovable things and objects that were acquired during the upright marriage. This includes the household effects but also the marital home. The marital savings, on the other hand, are all the assets that were acquired during the marriage. This includes savings deposits as well as insurance policies and securities.

Items brought into the marriage or items donated or inherited by third parties are not included in the division. Companies or company shares also do not fall into the division, provided that it is not a mere investment. The concept of a company also includes surgeries, law firms and agricultural businesses. Even the organized letting of apartments falls under the concept of a company and is therefore not included in the distribution pool.

 

Financial matters are delicate. Contact me for a conversation to work out the best solution for you.