Division of Property
Family Law Topics
How is property divided up in a divorce?
Typically, any property that was accumulated during the marriage will be considered "marital property" and subject to being "equitably" divided. Read below for how some larger marital assets are divided:
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The Court is mandated by statute to divide marital property and debt equitably. Equitably is not always the same as equally.
The Courts divide:
Pensions and retirement plans
Usually, the court only divides property that came to the parties by virtue of the marriage.
Property brought into the marriage and owned previous to the marriage and has not been comingled is separate property not to be divided unless certain circumstances are present.
Gifts from parents and others are separate property not to be divided unless certain circumstances are present.
Before the court can divide property, it must put a value on it.
It makes no difference to the Court whether the property is held jointly or by one person alone.
It makes no difference to the Court whether debt is held jointly or by one person alone.
An attorney can tell you what to expect in case of a divorce or separation.