Divorce is an emotionally challenging process, and one of its key aspects is the division of property. In Estonia, this process is regulated by family law, which outlines the rules for the division of assets between spouses. It’s essential to understand your rights and obligations to avoid mistakes and ensure a fair division of property.
1. Legal Basis for the Division of Property
In Estonia, there are three property regimes that govern the financial relations between spouses:
- Joint Property Regime: If no prenuptial agreement has been made, the default regime is joint property. This means that everything acquired during the marriage is considered joint property.
- Separate Property Regime: If the spouses have signed a prenuptial agreement stating that each spouse retains their property separately, there is no need to divide personal property upon divorce unless otherwise specified in the agreement.
- Accumulated Property Regime: In this regime, each spouse retains their property, but property acquired during the marriage can be divided based on mutual agreement or according to the law.
2. What Assets Are Divided?
During divorce, typically only joint property is divided, which includes assets acquired during the marriage:
- Real estate.
- Cars.
- Bank accounts and savings.
- Investments and stocks.
- Household appliances and furniture.
- Joint loans and debts.
Separate property that is not subject to division includes property acquired before the marriage, as well as gifts and inheritances, unless otherwise stated in the prenuptial agreement.
3. Property Valuation
To ensure a fair division of property, all shared assets must be accurately valued. Sometimes, independent appraisers are required, especially for valuable items such as real estate or businesses.
4. How to Avoid Mistakes During Property Division?
- Document Assets: Ensure you have clear documentation of all assets to avoid disputes over what is joint and what is separate property.
- Consult a Lawyer: Consulting a lawyer specializing in family law helps to avoid legal errors and protect your interests.
- Prenuptial Agreement: If a prenuptial agreement exists, property division follows the terms set out in the agreement, which can prevent future disputes.
- Reach an Amicable Agreement: Settling the division of property amicably is always quicker and less costly than court proceedings.
5. Court Settlement or Notarial Agreement?
Property division can be handled either through court proceedings or a notarial agreement. A notarial agreement is usually faster and less expensive, while court proceedings may be necessary if the spouses cannot reach an agreement.
6. Other Important Considerations
- Joint Loans: It’s essential to negotiate how to handle joint loans and debts to avoid financial difficulties after the divorce.
- Child Support and Maintenance: If the couple has children, they must also address child support and maintenance matters during the divorce.
Conclusion
The division of property during a divorce in Estonia depends on the chosen property regime and what was acquired during the marriage. Accurate documentation of assets, proper valuation, and legal support can help avoid mistakes and conflicts. Consulting a lawyer ensures that the process is carried out fairly and in accordance with the law.
