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California, Louisiana, and New Mexico, require that property be divided equally upon divorce. The other community property states, like the rest of the states, use a system of equitable distributionthe division of assets based on what is fair. |
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In Search of Justice: Seeking Fairness Under the Law |
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Just what is fair? The law may direct judges to consider several different factors when dividing up property. In some states, there is a presumption of equalityin other words, if you want more than 50 percent, you have to prove you're entitled to it. |
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In other states, the court weighs the factors without any presumptions. |
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What are the factors a court might consider in deciding how to distribute your money and goods? They vary, but in general, important factors include the length of your marriage, the nature of the property, the responsibilities each of you had in the marriage, whether you have children and who they are going to live with, your health, your education, and your noneconomic contribution to the marriage. In a long marriage, the likelihood of a 50-50 division of assets is much stronger than in a short one. |
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One doctor friend of ours was married for just two years and had no children. His income was easily $200,000 a year. Although his wife had no career and no apparent means of support, the court awarded her a six-month period to get on her feet and ordered that the family condoacquired during the marriagebe sold, with the assets split. The wife received a Lexus, the family car. |
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Of course, this was a relatively simple case. The rules and guidelines are not always clear-cut. What about property you had before you got married, but which increased in value during the marriage? You need to talk to your attorney. Depending on where you live and what was done to make the property increase in value, part, or even all, of the property might be subject to distribution. |
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If it sounds frightening, it's not. Either your case is complicated enough for you to need the help of your attorney, or it's simple enough for you to work out the division of assets yourself. |
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A Slice of the Tamale: How to Divide Your Assets Without a Legal Tribunal |
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Unfortunately, for most people married more than a couple of years, complexity rules. The game of round robin, described earlier, is a lovely exercise in forgiveness. But most of us own more than furniture, china, and knickknacks. There's pension, a savings account, an account for the kids' college tuition, some bonds still left over from the wedding, and some paintings that aren't worth much now, but you never know. |
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