Divorce and Property

Alimony

This can also be called spousal support and it can be for either the man or woman in a marriage. Alimony is used to help either the man or woman maintain the type of life style in which they have become accustomed. In most states, alimony is not mandatory. Alimony will be less necessary if the marriage did not last long and each party is able to work and maintain a comfortable living.

Distribution of Property

Distribution of property is usually done in one of two ways. It is usually divided either under the community property theory or the equitable distribution theory. The method used is usually determined by the state in which you live.

Community Property Laws

Community laws generally allows for all property to be divided equally in a divorce settlement. The courts are not concerned about financial need or the income earning potential of each spouse. Definitions of marital property may differ by state and may not include property acquired prior to the marriage. It also may exclude property that was inherited or property excluded with a pre-nuptial agreement. In addition, in a community property state both partners are responsible for debts, including home mortgages, and car loans. Community property is observed in the following states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.

Equitable Distribution Laws

Most states will determine the distribution of property based on equitable distribution laws. Using this method a variety of factors will be taken into consideration. These factors could include: income of both parties, how long the marriage lasted, standard of living, value of property and income earning potential of each party just to name a few.

Contacting an Attorney

If you have any issues that are contested it is important to contact a divorce attorney to discuss your divorce case. Property distribution can vary by state and can be extremely complex it is important to discuss your property distribution issues prior to finalizing your divorce.

Child custody issues can also be some of the most emotional issues to determine and can affect the welfare of your child. Do not leave these issues to chance; contact a divorce attorney to help develop a divorce settlement to best meet your needs and the needs of the ones you love.


Divorce Term of the Day

Separation Agreement

A separation agreement is a written agreement which outlines how certain issues will be handled if a couple decides to legally separate but remain married.

Category: Divorce


Latest Divorce Question

What if I fail to pay child support?

Not paying child support is similar to not paying your income taxes- it is illegal and taken very seriously by the government.

Category: Divorce




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