What impact does a divorce have on shared assets?
February 22, 2022 | 45,00 EUR | answered by Marcus Hering
Dear Family Law Attorney,
I am reaching out to you because I am in a difficult situation and urgently need advice. My name is Chloé Fuchs and I have been married to my husband for 10 years. Unfortunately, we have been arguing more frequently lately and have decided to get a divorce.
During our marriage, we have built up assets together, including a shared property, savings accounts, and various valuable items. Now I am worried about the impact the divorce will have on our shared assets. I am wondering if I can keep my share of our assets or if my husband is entitled to a portion of them.
I would greatly appreciate it if you could explain to me how the shared assets are divided in case of a divorce and what options there are to protect my assets. Are there specific regulations or agreements that we can make to ensure a fair division of assets? I am concerned that I may be financially disadvantaged after the divorce and would like to know what steps I can take to protect myself.
Thank you in advance for your help and support.
Sincerely,
Chloé Fuchs
Dear Mrs. Fuchs,
Thank you for your message and your trust in my expertise as a family law attorney. I understand that an impending divorce can be a very stressful and emotional situation, especially when it comes to dividing shared assets.
In Germany, the principle of marital property applies unless other agreements have been made. This means that assets acquired during the marriage are generally divided between the spouses, with each spouse receiving their share of the increase in wealth. The increase in wealth is calculated as the difference between the initial assets and the final assets of each spouse.
It is important to note that only the increase in wealth during the marriage is divided, not the entire assets. This means that assets already owned before the marriage or acquired through gifts or inheritance are usually not included in the calculation of the marital property division.
If you are concerned about the division of your assets, there are various ways to protect yourself. One option is to agree on a prenuptial agreement, where you can already regulate the division of assets and potentially alimony payments in case of a divorce. Such an agreement can be tailored to your individual needs and provides a certain level of security for both spouses.
It is also advisable to gather and secure all relevant documents and evidence of your assets. This can help you better enforce your claim to your share of the assets in case of a divorce.
I strongly recommend seeking legal advice early on to know your rights and options and to ensure a fair division of assets. I am available for a personal consultation to discuss your individual situation and provide you with specific recommendations.
I hope that my information has provided some clarity for you and I am happy to answer any further questions you may have.
Sincerely,
Marcus Hering
Family Law Attorney
