As mentioned in an earlier article, most states follow the Equitable Property rule when considering how to distribute property. The application of this rule is subjective and ultimately the court has the discretion to allocate property very disproportionately between the spouses, based upon what it considers “just and equitable.”
Non-marital property (such as an inheritance or gift, or property that was attained prior to the marriage) is allocated to the person who owned that property. Marital property is split based upon special needs of the spouse or the children, upon actions against the property (waste, damage, etc.), who purchased the property, and even behaviors during the marriage.
Debt is usually allocated in a similar manner, based upon subjective factors such as who took on the debt, what it was used for, ability to pay back the debt, and again – behaviors during the marriage.
Lawyers in equitable property states are well-versed in helping you fight for what is a “just” distribution. However, if you can come up with a property settlement that you both agree on, you will save time and money in the courts. You can enlist the help of a mediator, which should be less expensive than an attorney.
