Do you know the mechanics of the division of the assets in a divorce case?

Question

If both parties have bank accounts, mutual funds, annuities, stocks and other investment accounts, how do the courts divide them 50-50%?
1. Each account is split 50-50% ? Or they add up the cash accounts and divide by two ?
2. Do the courts write a letter to the financial institutions and ask them to send half the amount to the other party, or to the court ?
3. Fifty percent split is effective on the day of the court order, the day the judge signed the papers of the day the finacial institutions receive the papers ?
4. Are the stocks sold or just divided ?
5. etc. etc.
Answer only if you have first hand knowledge, (or you know a website where I can check) please ! Thanks

Answer 1

The settlement agreement is made before you go to court. Either the two of you sit down and figure the split or turn your lawyers loose.

The judge just "blesses" your division of assets.

Answer 2

The other way to do it is to sit down with your "ex-to-be" and talk it over. I'll trade you this for that. I get the Ford, you can have the Pontiac. You can keep the motorcycle, I get the Certificate of deposit, divide the credit card debt and savings and checking accounts down the middle etc., etc.Leave the lawyers and courts out of it; they only complicate things and cost time and money.

Answer 3

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