What Is Equitable Distribution Of Property In Divorce?
In terms of a divorce, Equitable distribution refers to a state's policy of dividing marital property according to spousal merit. In other words, instead of splitting property 50-50, the court will split the property according to what it thinks is most fair. To determine what is absolutely fair, the court will consider many factors that determine how much property each spouse contributed to the marriage.
Usually, the first factor considered is each spouse's individual income since these values are usually not equal. Courts may also consider one spouse's contribution as a homemaker, how long the marriage lasted, who will take care of the couple's children, domestic violence and adultery, one spouse's economic irresponsibility, and the separate property of each spouse.
When taking these factors into consideration, the court may determine that one individual deserves a greater share of the marital property & assets than the other individual. It usually will not determine that one spouse deserves all of the property, but it may not determine that spouses are entitled to a 50-50 split. It is difficult to determine how a court will factor all of these considerations,
meaning that it is difficult to determine how equitable distribution will turn out.
In some cases, it may be favorable, while in others, it may be unfavorable. To avoid this uncertainty individuals are advised to agree on property division with their spouses before their divorce court hearing. In this way, both spouses can agree to a settlement that they feel best compensates them for their time in the marriage. Often, an experienced Property Division Lawyer can help you negotiate the most favorable settlement with your soon-to-be ex-spouse.
Family law disputes can be distressing & daunting. However, before taking on to divorce, order modification, child custody, or all other important legal matters, it would be smart & helpful to get the best legal advice. Contact the office of Fizer Law, the finest Property Division Lawyer in Long Beach, at 1~562~270~9944.
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