When it comes to divorce, there are a number of areas of concern that may be applicable to a couple’s circumstances. For example, child-related legal issues can be emotional and challenging, such as disputes over custody and child support orders. The financial side of the divorce process can be confusing and very difficult for some people and the division of marital property is one of the key financial considerations surrounding divorce. Unlike non-marital property, which is not subjected to division, marital property is split up between two people who bring their marriage to an end.
Understanding how marital property is divided may give you a clearer idea of what to expect in the months ahead and help you prepare for this facet of family law. There are a number of examples of marital property, or assets that are acquired while a couple is married. From pensions to vehicles, stocks, cash, bonds and even insurance, there are many different types of property that could be subject to division. Some people face an especially difficult time in court due to the division of real estate and there are other types of property that may be divided by the court.
There are various ways you can prepare yourself for this issue, such as reviewing some of the different factors the court considers when determining how marital property is to be split up. We discuss a number of other issues that are related to the distribution of marital property over on our property division page.