Posted by on Oct 28, 2012 in Law | 0 comments

Each instance of a couple filing for divorce will be different from any other. The proceedings will depend on a number of variable factors, such as the presence of any children, the length of the marriage, and each persons financial situation. With that in mind, issues that frequently arise during many divorces, like alimony and child-support, are not always necessary to take into account. However, each and every divorce will have some factors in common. One such factor is the equitable, although not necessarily equal, division of the shared assets that constitute the marital property. The difference between the two can be described as an equal, or 50/50, division of property versus one that is fair, or takes into account the financial needs of each spouse.

Details of Dividing Property

Couples who have made the decision to file for divorce may choose to divide their jointly owned assets among themselves, either independently and on their own or through a mediator. Such decisions are not always easy for two divorcing individuals to make. In such a situation they have to option of going to court, in which case the presiding judge will decide how their property is divided. Following are some of the factors that will influence a judges decision:

Current financial situation of each spouse
How each spouse has contributed financially to the marriage
Basic needs, such as education, lifestyle, and health, of each spouse and their children
Arrangements made for child custody
If the couples assets were affected by any misconduct during the marriage

Partition actions may be filed in the event that a couple cannot reach an agreement concerning the division of an asset such a business or other property. Such issues can be difficult to resolve, especially if they arise after a divorce settlement has already been completed. A partition action lawsuit may be filed by one of the owners if they decide to make a significant change, such as selling the asset.

Legal Options

If child custody issues are making the division of marital assets difficult for you and your former spouse during divorce proceedings, you should contact an child custody lawyer who can help facilitate the process for an efficient and equitable resolution.

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