How do you divide marital assets?

How do you divide marital assets?

When you get divorced, community property is generally divided equally between the spouses, while each spouse gets to keep his or her separate property. Equitable distribution: In all other states, assets and earnings accumulated during marriages are divided equitably (fairly) but not necessarily equally.

How are gifts divided in a divorce?

In many cases, gifts from parents will not be subject to equitable distribution in divorce. While couples’ marital assets are subject to distribution, gifts will often qualify as separate property, and this means that they remain the sole property of the recipient spouse.

Is it better to stay married or divorce?

While some divorces are necessary, many marriages can be repaired. It may be difficult to face the issues that you and your spouse are struggling with, but research suggests that couples who can manage to stay together usually end up happier down the road than couples who divorce.

Can I lose everything in a divorce?

No, you don’t lose everything in a divorce. Not in the US. In some states, without a prenup, you split your marital assets and debts down the middle. In other states, it is an equitable distribution of your marital assets and debts based upon numerous factors.