babycat
23:11
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
equitable distribution
Read a random definition: first impression
A quick definition of equitable distribution:
Equitable distribution is a rule in divorce law that decides how to divide things like money and property between a husband and wife. It's not always a 50-50 split, but instead, the court tries to make it fair based on different things like how long the couple was married, how much money they each make, and what they contributed to the marriage. Some states even consider things like cheating when deciding how to divide things up.
A more thorough explanation:
Equitable distribution is a legal principle that guides how property is divided between spouses during a divorce. It aims to achieve a fair distribution of marital property based on a set of factors or guidelines established by state law. This is different from an equal division of property, which is used in community property states.
For example, in New Jersey and Pennsylvania, some factors that a court may consider when dividing property include the length of the marriage, the value of the property, each spouse's contribution to the property, their respective incomes or earning capacities, and their economic circumstances after the divorce. In some states, such as South Carolina, marital misconduct like adultery may also be considered if it contributed to the end of the marriage or affected the parties' financial situations.
Overall, equitable distribution seeks to ensure that both spouses receive a fair share of the marital property, taking into account their individual contributions and needs.