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Tips for Arranging Money and Property When a Relationship Ends

Tips for Arranging Money and Property When a Relationship Ends

Among the many, many life experiences a person can go through a serious breakup has to be one of the most challenging. Not only is there the emotional turmoil, but decisions about money and property when a relationship ends can prove to be particularly challenging. Some couples have no ties to each other in regards to assets and therefore can go their separate ways with no problems, whereas others have shared funds or a property to arrange following their breakup. While there’s no doubt that a breakup is a lot less complicated than a divorce, you’ll find that you have fewer legal rights than a married couple. In this post, we’ll discuss the various important aspects of money and property when a relationship ends, and how to resolve the issue as efficiently as possible. Agreeing on Finances Unfortunately, negotiating and organising the division of your finances will take some time. The first thing you need to do is make a list of any shared funds such as bank accounts or savings, possessions, and also any debt or bills. Doing so will help you to establish exactly what needs to be divided and dealt with so that both parties are satisfied. For possessions, it may be a case of one person reimbursing the other for their half or simply selling the items for a 50/50 split. When it comes to bills, transferring the account and payment should be pretty straightforward if it’s you that’s leaving the property. The same goes for house or car insurance if your ex is on your policy, contacting the company and asking them to remove...