There are two legal theories that govern how marital property is divided: distribution of community property or fair.
Equitable distribution is more common than the laws of the community's property, and instead of requiring a 50/50 Division of marital property; It takes into account the financial situation of each spouse. While equitable distribution is more flexible, it is also difficult to predict the outcome, since there are so many factors taken into consideration during settlement negotiations. The factors considered in fair distribution include:
The duration of the marriage. The age and physical and emotional health of the spouses. The property has led to marriage by each spouse or income. The standard of living established during the marriage. Any written agreement made by the spouses before or during the marriage for the distribution of property. The economic situation of each of the spouses at the time of Division of property becomes effective. Income and profit potential of each spouse. The contribution of each spouse to the education, training or earning power of the other spouse. The contribution of each spouse to the acquisition of any marital property, as well as the contribution of a spouse as a housewife. The tax consequences to each spouse. The current value of any marital property. The need for the custodial parent to stay in the marital home and keep possession of furniture. Marital debt and liabilities and the ability of each spouse to pay debts. All other factors that can hear the Court are relevant.
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