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Family law attorney can help with division of property

On Behalf of | Nov 27, 2019 | Family Law

The decision to divorce can be a difficult one to make. Who will get the family home, how will financial assets be divided and who will be responsible for which debts are all questions that the unhappy New Hampshire spouse must consider. Additionally, which assets are considered to be marital assets and thus a part of the divorce process? Prior to making any final decisions regarding these issues, the individual will want to review them with a family law attorney.

There are many factors that will need to be taken into consideration in determining how one wants to settle the division of property. When the assets were acquired, the financial and nonfinancial contribution of each spouse to the marriage, the income potential of each spouse and a number of other questions will need to be answered. Rather than simply dividing assets in a 50/50 manner, the New Hampshire courts will look at the overall picture.

Another factor to consider is that assets acquired prior to the marriage are not considered marital property. It is also possible that assets may be acquired during the marriage that are intended to be kept separate from the marital estate, such as an inheritance for one spouse. As such, these items are not included in the equitable distribution of assets.

It is possible for divorcing spouses to determine the division of property on their own. However, in many instances, there are items upon which they disagree. Additionally, some financial assets may need to be analyzed to determine future value, etc. in order to decide what is best for the individual. An experienced family law attorney can assist the individual in navigating the divorce through New Hampshire’s judicial process.