Divorce Property Settlement

In either an equitable division divorce or community property divorce, the final decree will outline the divorce property settlement terms. The settlement agreement will outline which property is to go to which spouse and in some cases, how the property values are to be divided. This agreement can be reached between the parties without any outside assistance, with the help of a mediator, or by the family courts. An equitable division divorce divides assets equitably (fairly), not necessarily equally. A community property divorce involves the division of assets and debts which were acquired during the marriage equally. Separate property, or property which was owned independently prior to entering into the marriage, will remain separate property.

Fast Facts

  • In most divorce cases, the higher income earner or sole income earner is awarded 2/3 of the household assets, while the non-earner or lower earning spouse is awarded 1/3 of the estate.

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