The Equitable Distribution Process

If you are contemplating divorce then you will need to familiarize yourself with the concept of equitable distribution.

No matter how long your marriage was, you will need to separate your assets and possessions between you and your spouse. Unless you signed a prenuptial agreement, the law generally states that an equitable distribution of your assets is required. In order to do this properly and efficiently, there are three steps that you may follow:

Identify all of your property. You will need to outline which property is classified as marital and what is classified as separate.

You must give a value to all of your property that is in accordance to current fair market value. If you cannot do this on your own, you can enlist a property expert to provide accurate figures for your assets.

Based on what values you have assigned your property, and as long as the court agrees with them, everything will then be divided equally between the two parties unless otherwise stated.

If you find that you are not able to reach an amicable agreement regarding the distribution of your assets with your spouse, it may be wise to hire a family law attorney in your area of residence.