Divorcing your spouse will result in a division of assets. Meaning the property that you get to keep will look a lot different than your current share of marital property.
When you take your divorce to a New Hampshire court, a judge will review your case and decide what fair split of your assets look like. This is known as equitable distribution. It’s important to keep in mind that fairness does not equate to an equal or even 50/50 split of marital assets.
Tangible and intangible assets
It’s worth noting what kind of assets are subject to division. According to state law, marital property includes tangible property, like real estate, furniture, art and vehicles. It also includes assets that don’t take up physical space, like bank accounts and employment and retirement benefits. Whether or not both you and your spouse have your name under every car title or bank account you acquire through the course of your marriage, it still counts as marital property that a judge can split up.
Factors of property division
To create a division that makes sense for your family, a judge will review several factors before making a final decision. The division of assets might be based on the length of your marriage, the economic and non-economic contributions to the marital household and the job skills or employability of each spouse. If there were any actions that either spouse took to cause the marriage to end, then the judge may alter the division assets to favor the party that isn’t at fault. Marital fault will only be able to impact property division if it caused a large amount of pain and suffering or financial loss. The judge will also review the value of any separate property couples come across throughout your marriage. Separate property includes individual gifts or inheritances that either party receives.
Discussing the details of your marital estate with an experienced family law attorney can help you seek a settlement you deserve.
