Property Division

Question 1

Marital Property

Answer 1

all property acquired during the marriage EXCEPT

Question 2

Increase in value of Separate Property

Answer 2

if value in property increases because of either spouses contribution the property is marital

Question 3

Burden of Proof for Separate Property

Answer 3

Party who is claiming items are separate have burden to show that

Question 4

Exceptions to Marital Property

Answer 4

• Property Acquired during the marriage
• property that is excluded pursuant to a valid agreement
• property acquired by gift or inheritance
• property that has been sold or granted , or mortgaged in good faith
• award or settlement that received for any cause prior to marriage

Question 5

Factors to Consider for Distribution

Answer 5

duration or marriage, economic circumstances( age, health, retirement, earning capacity, present earnings, needs of spouse)

Question 6

Professional License or Degree

Answer 6

May affect support but majority believes that it is not distributable marital property

Question 7

Retirement & Pension

Answer 7

if earned during the marriage or value increases, considered marital property. The court will look at the present value

Question 8

Exception to marital property

Answer 8

Property acquired before the marriage, excluded by valid agreement, acquired through gift or inheritance, property sold or conveyed in good faith, award settlement received prior to the marriage.

Question 9

How does Marital fault play a role in property division?

Answer 9

Most states do not consider it a factor, however, dissipation of marital property can be considered.