When dealing with a divorce, dividing up assets is a sometimes painful but necessary process. This dividing up of property is called equitable distribution.
Anything that is acquired together during the marriage is called marital property. The exceptions to this rule are gifts and inheritances. Even if the property title is in your name, it’s still marital property. We also need to determine the value of property which can be as easy as Kelly blue book for cars but more difficult like appraisals for homes.
The court also looks at different factors when dividing up property. This includes the length of your marriage, relative earning capacities, and who has custody of your children. Watch the video now to learn more.