Any property you obtained during your marriage becomes marital property under the law. When you divorce, you must divide that property in an equitable manner. If you are unable to do so, the court will do it for you.
To protect your best interests, at The Kizer Law Firm, P.C., we encourage you to learn more about how the court divides marital property and what to expect during your divorce.
The court will not always divide property equally between you. It bases its decisions on producing a fair outcome. A judge will decide fairness based on various factors pertaining to your marriage, financial statuses and details about the property.
Specifically, the court may consider where and how you obtained the property. It may look into the upkeep of it as well. The court will also consider the needs of you and your children. For example, if you want the family home and will have majority custody of the children, then the court may be more likely to award you the home so that the children will not have to move.
The court also will look into your contributions and whether you helped to buy the property and maintain it. For example, if you have a collector’s vehicle you bought and restored, the court will want to know where the money came from to restore it and how much of the family funds may have gone into it.
The court can also use other factors as it sees fit. For example, the court may not feel as if it can decide who something should go to based only on finances or need. It may decide to inquire more about additional aspects of your life, such as what you will do with the asset if you get it in the divorce.
To learn more about how the court may divide property in a divorce, visit our website.