One of the biggest concerns that many people have when they are getting divorced is what will happen to all of their belongings. All of a couple’s assets will be divided through a process known as equitable distribution. Equitable distribution is commonly confused with dividing the property equally between the two spouses. You may want to mentally prepare for the possibility that you will not necessarily be walking away with exactly 50 percent of your assets. Depending on your situation, one spouse may end up with 60 percent of the assets and the other spouse may end up with 40 percent of the assets. Note that these percentages are simply an example and may not necessarily be exactly the same in your particular situation.
The court may consider a number of factors when determining how your assets will be decided. For example, perhaps the spouse who is named the custodial spouse will be granted the marital residence because that is where the children will continue to live. In other situations, the couple may decide to simply sell the marital residence and split the proceeds between the two parties. No two divorces are exactly the same because no two couples have the same situation.
If you have any questions regarding the equitable distribution process or any part of the divorce process for that matter, contact an experienced divorce and family law attorney who can provide you with assistance.
If you require strong and dedicated representation for any of your legal matters, contact The Law Offices of George J. Mardinly to schedule a consultation.