Property division in New Hampshire is done in the most fair way possible according to equitable property division rules. Equitable property division rules describe an equal division of property based on a variety of factors that divorcing spouses should be familiar with.
Factors used to determine equitable property division
Equitable property division refers to dividing property in an equitable and fair way based on factors including:
- The duration of the marriage;
- The age, health, social or economic statuses of the spouses;
- The occupational skills, vocational skills and employability of the spouses;
- The separate property of each of the spouses and sources of income;
- The needs and liabilities of each of the spouses;
- The opportunity for each of the spouses for future acquisition of capital assets and income;
- The ability of the custodial parent to engage in gainful employment without substantially interfering with the needs of the children;
- The needs of the custodial parent to occupy or own the marital residence;
- Direct or indirect contribution made by one spouse to educate the other spouse or develop their career which may have interrupted their own education or career development;
- Significant disparities between the spouses in terms of their contributions to the marriage;
- Expectations of pensions or retirement;
- The tax consequences of the property settlement agreement for each spouse; and
- Any other factor the divorce court considers relevant.
The list of factors used to determine how marital property is determined is long and also includes if a spouse diminishes the value of the property and fault for the divorce. The divorce process can be difficult but understanding how property may be divided can help spouses plan and prepare for the property division process.
