See How Investments Will Be Shared Under State Family Law

By Author: L. Steven Sanders
Total Articles: 914
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An exceptional family law lawyer can easily help you identify and ascertain the value of assets along with securing your best interest. This will be easy if you and your spouse can concur on how all valuables should be split. When you are unable, the resolution is left to the judge in most states. Divorce courts manage all types of assets including frequent flyer miles, primary residences, time shares, pensions, pets, family businesses, and countless others. When couples don't agree, it is often out of resentment and they are just arguing to see who gets the final word. If this occurs, a mediator may be brought in to serve you in working together and finding a solution.

Marital property is considered to be any property or debt that was obtained during the marriage. This also means any property profits or losses. Separate property consists of property owned before marriage including allowances or birth rights that were granted to you as an individual. Previously-owned property should be itemized in a prenuptial agreement that will keep it secured no matter what the circumstances of the marriage.

Property disagreements ...
... most often are settled by both of you. When nothing is contested you will sign a binding paper called a marital settlement agreement. Otherwise the superior court will award the property by the decree of divorce. Whenever the two of you cannot agree, the court has specific processes it employs to separate the assets. Discovery process is used to determine what assets and debts should be part of the marriage. A money value will then be allocated to each asset and debt. It's important to know that state family law requires equitable distribution for assets. Equitable distribution occurs when the judge uses certain aspects to rule how the property will be split fairly but not necessarily equally. These types of factors include income, age, and who is the primary caregiver for the children.

To guarantee a just settlement and in order for your lawyer to be most helpful, you need to know all your investments and whether they are marital or separate. Being able to define this for your attorney will make their job much easier and they can concentrate on more important things such as filing all the documents and determining what to do if the other party contests the division of assets. It is best to try to settle with your spouse so you can both get what you want or be compensated how you see fit. Otherwise a judge will do this for you and the decision may be crushing.

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