Divorce Lawyers

Property laws in divorce cases vary from state to state. If you are filing for a divorce, you need to find out just what your state laws are.

Divorce terminates all commingling of funds between two spouses in all states. We can not discuss the variations of all the state laws here, so we will present a broad generalization of said laws.

Most states abide by “Community Property Law.” This includes all property, assets and debts accumulated during the marriage. Wages and income accrued during the marriage are also taken into consideration. This is called “Equitable Distribution.”

If a couple can decide on their on how to distribute their affairs, that is great. However, often times they can’t. When this occurs, they must turn to the state and its courts. These are the two ways most states determine asset and debt divisions:

• Community Property Divisions: In so called “Community Property” states, like Texas, all properties are classified in one of two ways…either as “Separate Property” or “Community Property.” “Separate Property is normally property owned before the marriage. “Community Property” is property acquired after the marriage. In states like Texas, New Mexico, Wisconsin, Washington, Louisiana, Nevada, Arizona, Idaho, Wisconsin, Puerto Rico, and Alaska, the spouse who has property owned before the marriage gets to keep it, undivided.

• Equitable Distribution: This includes all income and assets accumulated by the couple during their marriage. In order to divide these assets in a fair manner, usually the highest of the two wage earners gets the largest percentage of the spoils. The odd thing here is that these principles are not followed in the community property states. Go to http://www.fairmark.com/spousal/comprop.htm to see just what the laws are in these states.

If you have a large settlement, you definitely need to hire an attorney. Lawyers will know the local laws and will be able to assist you with getting the best settlement in your interest. They are well worth the money you pay them to keep from losing everything you have worked for.