Community Property vs. Equitable Distribution

Generally, there are two types of mindsets that govern property distribution in the U.S. Some states have laws that say assets are to be distributed equitably and other states believe in "community property". In states that have equitable distribution laws, all assets such as homes, cars, and money in bank accounts are divided by the court after it considers factors such as: length of the marriage, ages of spouses involved, health of the spouses involved, income earning capability of the spouses involved, and education levels of the spouses involved. After these issues are assessed, property is divided in a manner that the court sees as fair.

In community property states, such as California, assets that spouses acquire throughout the length of their marriage are split evenly - in other words, 50/50. Spouses are allowed to keep property that they acquire before the marriage as separate in community property states. Do you have questions about the property division laws in your state? If so, take the time to consult a family lawyer near you!