Divorce is a stressful time that creates a great deal of uncertainty about the future. Adding into this stress is dividing all of your marital assets. With a few exceptions, any assets you or your spouse acquired during the course of your marriage is subject to division.
The law does not care whose name the asset is in. If it was acquired during the marriage, it becomes marital property and is subject to division or equitable distribution. This includes, but is not limited to:
· Your home
· Any bank or investment accounts
· Retirement – pension – 401K
· Automobiles – boats
· Real estate investments
Equitable distribution does not necessarily mean a 50/50 split. It refers to what the court believes is a fair distribution given the circumstances. The court considers the duration of the marriage, future earnings for both parties, and the age and health of both parties.
If you are contemplating divorce and have questions regarding marital assets, contact an experienced Riverside Family Law attorney who will help you distinguish between what you want and what you need to be happy.