What factors are weighed in determining property distribution?
Marital property shall be divided equitably. That is the key standard. The following factors are weighed: • the contribution of each party in acquisition of marital property; • the dissipation of property by one party; • the value of nonmarital property; • the duration of the marriage; • the relevant economic circumstances of each spouse; • obligations and rights from previous marriages; • any valid agreement of the parties; • the age, health, station, occupation, amount and sources of income, vocational skills, employability, estate, liabilities, and needs of the parties; • the custodial provisions for children; • whether maintenance or alimony is awarded; • the reasonable opportunity of each spouse to acquire capital following the divorce; • the tax consequences to each party. One should note that marital misconduct is usually not a relevant factor. It only becomes a relevant factor if it included dissipation of marital property; then equitable principles would favor the innocent spo
Related Questions
- What factors should be disregarded in determining whether a particular grouping of similar items of property is reasonable?
- Is the division of property always fifty-fifty? What factors are considered in an unequal distribution of property?
- What factors are weighed in determining property distribution?
