How does the division of shared assets work in a divorce?
March 11, 2023 | 40,00 EUR | answered by Alexander Hartmann
Dear lawyer,
My name is Friedhelm Prestel and I am facing the difficult situation of a divorce. My wife and I have built up a shared fortune during our marriage, consisting of a house, various savings contracts, and a joint car. Now the question arises for me, how the division of this fortune works in case of a divorce.
The current situation is that my wife and I have mutually agreed to get a divorce. We have already discussed the division of the assets, but we have not yet reached an agreement. I am concerned that disputes may arise and therefore would like to clarify in advance what the legal regulations regarding the division of assets are.
My question to you as a divorce lawyer is: How is the shared fortune divided in a divorce? Are there legal requirements that must be taken into account? What options do I have to ensure a fair division of assets and to avoid potential disputes?
I thank you in advance for your support and advice in this difficult situation.
Sincerely,
Friedhelm Prestel
Dear Mr. Prestel,
Thank you for your inquiry regarding the division of shared assets in the event of a divorce. It is understandable that you are concerned about potential disputes and would like to clarify in advance how the legal regulations for asset division work.
In general, German family law governs how shared assets are divided in a divorce. It is important to note that in a so-called "Zugewinnausgleich" procedure, the assets acquired during the marriage are divided. This means that the assets owned by each spouse before the marriage are typically not included.
The "Zugewinnausgleich" is usually carried out according to the principle of equal division of the increase in assets acquired during the marriage. The initial assets (assets at the beginning of the marriage) are subtracted from the final assets (assets at the time of the divorce). The spouse whose increase in assets is higher must compensate half of the surplus to the other spouse.
It is important to note that not all assets are included in the "Zugewinnausgleich." For example, debts incurred during the marriage must be deducted. Also, certain assets that are considered personal (e.g. inheritances, gifts) do not fall under the "Zugewinnausgleich."
If both spouses agree on how to divide the assets, they can draw up a so-called separation agreement. In this agreement, they can determine how the assets will be distributed and avoid potential disputes.
However, it is advisable to consult with a lawyer even in an amicable divorce. A lawyer can help you secure your rights and ensure a fair division of assets.
I hope that I have been able to help you with this information and am available for any further questions.
Best regards,
Alexander Hartmann
