Equitable Distribution

Equitable distribution concerns the division of those assets which were legally or equitably acquired during the marriage.

Marital Residence

The marital residence, whether owned or leased, is subject to equitable distribution when the parties divorce. It must be remembered, however, that equitable is not always equal. The economic value of an asset is not, and should not be, the only consideration at the time of divorce. Often during the course of a marriage many items will be accumulated (pictures, heirlooms, etc.) which must be distributed between the parties.

An important part of equitable distribution will involve the distribution of bank accounts, stocks and other assets. Equitable distribution also addresses the distribution of marital debt. Pension plans, 401Ks and other retirement plans are often subject to equitable distribution as well. In certain instances, an independent evaluation of those assets must be made and a separate court order Qualified Domestic Relations Order be executed to assess and apportion those assets.

The equitable distribution of marital assets can be as specific as necessary to satisfy the parties’ needs. A competent attorney will identify and evaluate the marital property, consider its source as well as any pre or post nuptial agreements and guide you accordingly. Like so many issues facing parties at the time of divorce there are valuable sentimental and non-economic issues as well. Competent counsel can assist you at this critical time.