Financial Asset and Property Checklist
To follow is a list of all relevant documents that you will want to collect and maintain for use in comprehending and preparing for the impending distribution of marital assets and property. You should also prepare a list of all personal property, including that acquired prior to and during the marriage. Contingent upon your particular situation, not all of the items to be listed will be required. It is recommended that next to each item, note who has actual possession and where it is physically located. If your spouse proves uncooperative in the compilation of such documentation, you may need to enlist the assistance of an attorney-at-law in order to thoroughly protect any and all rights you may have to any asset or property that your spouse may be attempting to withhold for their individual purposes.
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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.
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