When dividing marital assets, the law requires an equitable distribution of assets. In many cases, that will mean a 50/50 split of marital property but we examine the entire case with your best interest as our focus. 

 

·        What does “equitable distribution” mean? While the courts often split marital property in half, other circumstances can change that. If one spouse stayed home during the marriage, or has a lower earning capacity, the distribution may be affected. A fault-based divorce (a finding of adultery or domestic violence for example) can change the division of assets.

·        How are assets valued? If one spouse wants to keep the marital home, the house will be valued and other assets of equal value will be awarded to the other spouse. If one or both spouses own a business, a business valuation will be required.

·        What about other assets? Retirement accounts, stock options, and all other assets must be disclosed in a divorce. In addition to community property, a spouse may also want to lay claim to separate property. If funds from separate property of a spouse are used to enhance a community asset, there may be a right of reimbursement or economic contribution to the separate estate. The same is true if community funds are used to enhance the separate property estate of a spouse.

·        Will the divorce involve maintenance? Depending upon the length of the marriage, the earning capacities of the spouses, and the employability of the spouses, temporary or post-divorce maintenance may be awarded.