Issues Surrounding the Division of Marital Property

Your state will be either an equitable distribution state or a community property state. Once it is determined how marital property is divided in your state, four concerns need to be dealt with.

• Marital assets owned by you and your spouse will need to be identified.
• The assets will need to be categorized by marital or non-marital property.
• A value will have to be assigned to the assets.
• A plan for division of the assets must be established in accordance with your state laws.

Due to no-fault divorce laws, most states separate the division of marital property from any grounds for the divorce. Most states will, however consider financial misconduct when dividing marital property. If your spouse has gone through a mid-life crises and foolishly spent money, or has been engaged in an affair and given money to the other man/other woman, then your spouse should expect to be penalized when splitting....read more about marital property