Property Distribution

One of the greatest difficulties of divorce, second only to custody and support issues in connection with the children, is the division of property. If the parties cannot reach a decision on their own (or with a mediator or arbitrator) as to how assets and liabilities will be divided, the court will make that decision for the parties pursuant to “equitable distribution.” That means the distribution must be “fair,” although not always “equal.”

In deciding how property should be distributed, the court usually considers: the duration of the marriage, the property brought to the marriage by each party, the standard of living established during the marriage, the income and earning capacity of each party, the contribution of each party to the education or earning power of the other, the debts and liabilities of the parties, etc.

It is important to keep in mind that the date when a divorce is filed is the “cut off” date for equitable distribution. Any property obtained by either party after the cut off date is not subject to equitable distribution; that is, there is typically no need to divide that asset with the other spouse. Therefore, the timing of filing the divorce complaint can sometimes be an important strategic decision.

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