Parting Ways, Dividing Property
During divorce proceedings, one of the most heavily contested issues is often property distribution. The task of deciding who gets what is deceptively complicated; many a divorce has turned ugly due to disagreements over property division. At the root of the problem is the nature of marital versus individual property. In a legal marriage, for example, some assets become mixed, while others may stay separate. To untangle this mess, most states follow a doctrine called “equitable distribution.”
Equitable distribution is a system which attempts to divide marital property in a “fair” and “flexible” manner. To meet this standard, a court may consider one or more of the following:
A person’s employment situation can have an impact on whether they are likely to be awarded child custody or not. If a parent has a job that requires them to work irregular hours, a frequently changing schedule, or take an inordinately high number of business trips, custody will often go to the other parent. Again, this is to provide the best living situation for the children.
- Economic situation of the spouses (including future earning power)
- Spouses’ individual contributions to the marriage
- Duration of the marriage
- Health of each spouse
- Child custody / Child support
The problem with equitable distribution, as with many aspects of family law, is its subjectivity. A judge may place more emphasis on one factor than another or ignore something completely. Because of this, it is difficult to really predict the outcome of a property distribution battle. The best way to approach such a situation is with the aid of an experienced divorce attorney.
If you are going through a divorce, contact an Austin property division lawyer from Slater, Kennon & Pugh Ltd.LLP today at 512-472-2431 to learn more.