Equitable Division of Property

In a proceeding for dissolution of marriage the court must distribute the marital assets and liabilities between the parties. The court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution based on a number of factors including (a) the contribution to the marriage by each spouse, including contributions to the care and education of the children and services as homemaker. (b) The economic circumstances of the parties. (c) The duration of the marriage. (d) Any interruption of personal careers or educational opportunities of either party. (e) The contribution of one spouse to the personal career or educational opportunity of the other spouse. (f) The desirability of retaining any asset, including an interest in a business, corporation, or professional practice, intact and free from any claim or interference by the other party. (g) The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the non-marital assets of the parties. (h) The desirability of retaining the marital home as a residence for any dependent child of the marriage, or any other party, when it would be equitable to do so, it is in the best interest of the child or that party, and it is financially feasible for the parties to maintain the residence until the child is emancipated or until exclusive possession is otherwise terminated by a court of competent jurisdiction. In making this determination, the court shall first determine if it would be in the best interest of the dependent child to remain in the marital home; and, if not, whether other equities would be served by giving any other party exclusive use and possession of the marital home. (i) The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition. (j) Any other factors necessary to do equity and justice between the parties.

The court must also set apart and distribute to each party their non marital and pre marital assets.

The law of equitable distribution is quite complex and involves a number of factors which the court must consider in determining which assets are marital, non marital and pre marital and then determining how and when to distribute those assets and liabilities.

The foregoing is just a summary of the law of equitable distribution of marital assets and liabilities. If you are going through a divorce or contemplating divorce or separation and have assets that require distribution you should consult with an experienced family lawyer for advice on how best to ensure that your rights are protected in the Divorce process. Steven Friedman has been counseling divorcing parents in equitable distribution issues for more then twenty years. Please contact Mr. Friedman online or call us at 954-385-7282 to set up a free initial consultation.

At the law office of Steven Friedman our guiding principal has and always will be to provide our clients with competent legal representation at a fair and reasonable fee.