Dividing the Assets

In any divorce situation, one of the most major and complex elements to be dealt with would of course be the impending division of the marital assets. In many respects, marriage is not only a union of two people who profess love for one another, but also a merger of two economic entities as well. Anything and everything of actual economic value obtained over the course of a marriage, regardless of which spouse actually paid for it, is considered to be what is known as "marital property". Obviously, with a dissolution of a marriage comes the end of this economic union requiring adequate arrangements.

Community Property vs. Equitable Distribution

There are two types of states with respect to division of property, "community property" and "equitable distribution". For the most part, in a community property state the marital property is simply divided in two. In a equitable distribution state, the court arrives at what it views as a fair and equitable split irrespective of any actual 50/50 split. However, in each state, it is the specifics of each particular case which the court will follow in determining the actual division; these specifics are known as "relevant factors". There exists no set scale for determining the individual weight each relevant factor carries, so each state leaves these determinations to be made by the court on a case by case basis.

The House

For the most part, the two pieces of property which would be considered the "big-ticket" items would be the martial place of residence and the individual and joint retirement plans of the spouses. Typically speaking, in a case where there are children involved, the house will almost always be awarded to that spouse who will ultimately receive primary custody of the children. This rule will almost always hold true, even when it results in a slight imbalance with respect to the equitable distribution factor.

Useful Online Tools

Suggested Reading
The Property Division Handbook The Property Division Handbook
This book will explain in detail the property distribution aspect of divorce and separation. It will focus on the rights each spouse has under certain laws, situations, and circumstances, and how the division of the property will be decided by the court or through negotiation.

Download Now

Recent Related Blog Posts
    All Property & Debt Blog Posts

Related Article Archives
Cost of Divorce
Financial Planning & Divorce
Property & Debt Division
Property Valuations
Premarital Agreements
    All Article Archives

Related Categories
Alimony & Spousal Support
Divorce Financial Planning
Divorce Laws
Estate Planning & Divorce
Pensions & Divorce
    All Categories
Related Forums
Financial Aspects
Property & Debt
    All Forums

Resources & Tools

Bookstore Promotion Discount

Start Your Divorce Online Start Your Divorce
Several Options to Get Started Today.
Divorce Tools Online Divorce Tools
Keeping it Simple to Get the Job Done.
Divorce Downloads Download Center
Instantly Download Books, Guides & Forms.
Divorce and Custody Books Discount Books
Over 100 of the Best Divorce & Custody Books.
Negotiate Online Negotiate Online
Settle your Divorce and Save.
Custody and Support Tracking Custody Scheduling
Make Sure You Document Everything.
COMMUNITY PROPERTY VERSUS EQUITABLE DISTRIBUTION -- There are two basic ways to handle divorce property division: Community Property: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin and Puerto Rico are community property states. This means that all marital property is typically defined as community property or separate property. When divorcing, community property is typically divided evenly, and each spouse keeps his or her separate property. Equitable Distribution: All other states follow equitable distribution. This means that a judge decides what is equitable, or fair, rather than simply splitting the property in two. In practice, this may mean that two-thirds of the property goes to the higher earning spouse, with the other spouse getting one-third.
Start Divorce

Easily Connect With a Lawyer or Mediator
Have Divorce Professionals from Your Area Contact You!
Enter Your Zip Code:


Featured Book Divorce & Money: How to Make the Best Financial Decisions

Divorce & Money: How to Make the Best Financial Decisions

Divorce & Money: How to Make the Best Financial Decisions


Featured Download What Happens to the Marital Home Upon Divorce

What Happens to the Marital Home Upon Divorce

What Happens to the Marital Home Upon Divorce

Guarantee Official PayPal Seal Facebook Twitter Versign Secure Site