DIVISIBLE PROPERTYEquitable Distribution
Equitable Distribution
Equitable distribution means accounting for and dividing all marital assets and debts during the divorce process. Generally, an equal, or equitable distribution, of all marital assets and debts is an equitable or fair distribution of all marital assets and debts. Acts of marital misconduct may be considered in an unequal distribution of assets and debts in one spouses’ favor.
Equitable Distribution Factors
- The income, property, and liabilities of each party at the time the division of property is to become effective
- Any obligation of support arising out of a prior marriage
- The duration of the marriage and the age and physical and mental health of the parties
- The need of a parent with custody of a child or children to occupy the marital residence
- The expectation of pension, retirement, or other deferred compensation that is not marital property
- Any equitable claim to marital property by the party not having the title
- Any contributions made by one spouse to educate or develop the career potential of the other spouse
- Contributions to increase the value of the separate property which occurs during the marriage
- The liquid or non-liquid character of marital or divisible property
- The tax consequences to each party that would have been incurred if the property had been sold or liquidated on the date of valuation and, in the court’s discretion, whether such tax consequences are reasonably likely to occur
- The acts of either party to maintain, preserve, develop or expand marital property or to waste, neglect, devalue or convert marital or divisible property;
- The death of either party prior to the entry of an Order; and
- Any other factor the court finds just and proper.
