Under the law of equitable division, courts can order property to be divided between spouses in a variety of ways. Courts can divide property in an “equitable” fashion, which means that the court may not necessarily split up the property according to one spouse’s contribution or value. For example, if one spouse contributed significantly more labor and effort than the other, then courts may award that spouse a greater share of the marital estate. Courts can also split up property in a “proportional” fashion.
The proportional division is based on the principle that assets and property be divided in proportion to each spouse’s contribution to the marital estate, with an eye on each spouse getting as close as possible to half of the marital estate. Courts will use one or a combination of these two methods when dividing up property equitably and proportionally between spouses.
What is the Law of Equitable Division?
One constantly debated issue in the realm of family law is how exactly to divide marital property equitably and proportionally between spouses. The law of equitable distribution and equitable division is the body of laws that deal with how to resolve issues surrounding marital property following the dissolution of a marriage.
The law of equitable distribution and equitable division refers to the process of determining how marital assets are to be split between the two spouses. In general, there are two types of distributions that may be possible. The first type is known as an equal distribution, where all marital property is equally split between the divorcing spouses. This gives each spouse an endowment of a certain amount of assets. The second type is known as “equitable” distribution, where marital property may be distributed based on contribution or value. The court may not need to divide the property according to one’s own contribution or value but will instead use a method of equitable distribution.
How Does “Equal Division” Work?
In an equal division, the court will split all property, assets, liabilities, and debts equally between both parties. This will give each spouse an equal share of the marital estate. At the end of the case, each spouse will have a certain amount of property from which they can then begin to rebuild their lives following divorce. The benefit of this type of division is that it is quick and simple to accomplish. The other benefit is that it is relatively easy to determine how much each spouse will receive in an equal division.
When is an Equitable Property Distribution Appropriate?
When there is a division of property in a divorce or legal separation, the court will divide up the marital property according to contribution and value. In cases with minor children, the courts are especially likely to find an equitable division appropriate. An equitable division might be appropriate if one spouse contributed significantly more than the other spouse in terms of both time and money spent on the marriage. For example, if one spouse worked to pay for the mortgage and supported the family while the other spent most of their time working on an art project, then an equitable division would be appropriate.
How Does Marital Property Work?
In a general sense, the property is anything that has some value, and at the end of the case, all marital assets will be divided into two separate portions, each portion represented by one spouse. The assets will then be divided between both parties in the court order called “equitable distribution, or equitable division.” In all cases where there is a division of property in a divorce, there are two types of distributions: equal distribution and proportional distribution.
An equal division of property means that the court will take all assets and divide them equally between both parties in an order that gives each one an endowment of a certain amount of assets. The courts are encouraged to find equal distribution and the appropriate method when dividing marital property. A proportional division means that the properties are distributed according to their value and not their contribution.
What Specifies Property as Separate?
Most courts in the United States will not consider most gifts and inheritances as community property because those assets were acquired before the marriage. In cases where one spouse did not contribute but rather received an inheritance or gift, it is generally considered the separate property of that spouse. In some states, family homes are considered to be community property. However, if the house was purchased before the marriage or with separate funds from a gift or inheritance, then it may be considered the separate property of that spouse. The court can make an error when dividing marital property, so it is important to consult with an attorney who will be able to address the issue.
When it comes to the division of property in a divorce, there are a myriad of issues that should be considered. It is important for you to consult with an attorney who is qualified to handle asset issues. Each case is different, and the outcome can vary greatly depending upon the facts of each case, so it is important to seek legal advice and representation from an experienced family law attorney.