After determining and valuing marital assets, the court proceeds with an equitable distribution. Importantly, equitable does not always equate to a 50/50 split. Once finalized, the division of assets cannot be modified. The court employs principles like transmutation and co-mingling to ensure fairness.
- Transmutation: This occurs when marital property is reclassified as separate property or vice versa, based on the parties’ intentions. For instance, if one spouse inherits a property but it is later used in a way that suggests shared ownership, the court may classify it as marital property.
- Co-mingling: When separate property is mixed with marital property to the extent that it cannot be distinguished, it may be treated as marital property. Courts attempt to trace the origins of such assets to maintain their original classification.
Factors Influencing Equitable Division
In deciding how to divide marital property fairly, the court considers various factors, including:
- Duration of the marriage.
- Any previous marriages.
- Age, health, skills, earning capacity, debts, and financial needs of both spouses.
- Contributions to one spouse’s education or career advancement.
- Future needs for acquiring assets and income.
- Income, medical expenses, and retirement plans of both parties.
- Contributions made toward increasing the value of marital assets.
- Value of separate assets.
- Reduction in marital asset value caused by one spouse.
- The standard of living during the marriage.
- Custody arrangements for minor children.
Expert Legal Support for Divorce Cases
Navigating divorce proceedings and property division requires a skilled attorney to protect your interests and secure the best outcome. Divorce Lawyer R. Badet offers comprehensive guidance through every stage of the process, specializing in divorces, spousal support, child custody, and related matters.
📞 Call for a Consultation: (267) 277-2641
🌐 Visit: www.lawyersfordivorces.net
Attorney R. Badet ensures personalized attention to your case, offering affordable solutions like consent divorces starting at $599. Reach out today for assistance!