Clarifying what the distribution of Property Is
Updated: Jul 19, 2022
Do you know how does distribution of property works during a divorce?
John explains in this video in a quick and simple way how it works. Join us!
Distribution of property of course in a divorce is one of the major issues.
First and foremost it's assumed that all property that's accumulated during the marriage is automatically marital property, and generally would be divided 50/50.
It does not, I repeat not, make a difference if it's only one spouse's name on the property.
So for example, let's suppose you got married in 1995. You bought a house, but for whatever reason, you put only in the wife's name. Well, that property is marital property. Not whit standing that it's only one spouse's name on it.
Okay. So, remember marital property is that which has been put together by either party during the course of the marriage.
Do you still have questions? Do you have a particular situation? Contact us, we can help.