Division of Property
EQUITABLE DISTRIBUTION………………….Division Of Marital Assets
Equitable Distribution is the legal term for dividing up marital assets and/or marital debt. Marital Assets (or debt) are any assets accumulated from the day you were married until the day you separated from your spouse. Equitable distribution does not necessarily mean that property is divided equally. The Court (or the attorneys during settlement negotiations) look at a variety of factors to determine how to divide the marital assets including the length of the marriage, the earning capacity of the parties, who has custody of the children, etc. A judge is supposed to do what is equitable, or fair, in distributing the marital assets. I can work to see that the factors are presented in the light that is most favorable to your interests.
Did you know that it doesn’t matter if an asset such as a house is only in the name of one of the spouses? Do you know that it doesn’t matter if credit card debt is only in one spouse’s name? Marital assets and marital debt are determined solely on the basis of whether or not they were accumulated during the marriage.
Valuation of assets is another important step in the equitable distribution process. To see that all property is valued properly, I will often enlist financial experts including real estate appraisers, pension evaluators and other professionals to see that all marital assets are appropriately valued.
What will you be left with after a divorce?