Property Division
Marital property is divided into equitable portions without regard to marital misconduct. Regardless of record title, property is classified and marital or non-marital. Non-marital property, such as gifts or inheritance, is generally assigned to the original party. Marital property is divided between the parties after considering many factors.
Tracing assets that may have become mingled during the marriage are complex family law problems usually in need of experts. Similarly, valuing martial residences and closely-held businesses can be a difficult and emotional battle. The courts have broad discretion to determine what is "equitable" in a property division.
Many counties require that a financial disclosure document be filed listing all the assets and debts for division, including life insurance policies, automobiles, bank accounts, retirement accounts, securities holdings.
