Distributing Marital Property

Anytime people go through a divorce, the property that they have is subjected to their states' distribution laws.  In some states, property is distributed equally and in others, it is distributed equitably.

Prior to the distribution of property, all assets and possessions must be categorized as separate or marital.  Separate property is all assets and valuables that are obtained prior to the commencement of the marriage or after a divorce is finalized.  Marital property is any income, assets, valuables or debt that is acquired throughout the duration of the marriage.  This property must be divided amongst the two spouses in accordance with the laws of their resident states.

Marital property may include:  homes, vacation homes, cars, furniture, jewelry, savings accounts, retirement accounts and debt.

If you have additional questions about equal distribution or equitable distribution, it is advised that you consult with a family lawyer in your resident state as soon as possible.