The division of property after divorce, also known as division of the marital estate, can be a contentious issue. In its basic form, it consists of a court decision regarding the equitable division of the couple’s assets and liabilities. Several issues are typically considered by a judge when determining the fairness of the division of property:
- Each person’s income, property, and debts
- The age of each person
- The length of time of the marriage
- The physical and mental health of each person
- Potential tax consequences
- The possibility that one person may need to remain in the marital home
The division of marital estate can get quite complex. Because of the myriad of potential complexities, you’ll most likely need an attorney competent in family estate matters to receive the best possible outcome.