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What Is Equitable Distribution Of Property?

Posted by Unknown | Apr 12, 2021 | 0 Comments

what is equitable distribution of property

Drama-Free Divorce can provide the answers to all of your equitable distribution of property questions. Our legal professionals are sensitive to your situation while offering support with professionalism. Our financing options start as low as $500 monthly for both Missouri and Kansas residents in Kansas City. Payment plans can be flexible according to individual needs - for example, we adhere to fixed pricing structures without unexpected financial surprises! The process also aims to avoid court appearances and the stress they bring, with payment plans designed specifically to fit this transitional period.

Equitable property division refers to the fair allocation of assets in various life situations, including divorce. Equitable distribution differs from equal distribution by taking into account factors like contributions, future prospects, and needs, rather than simply dividing everything equally. This article will investigate these differences and give five facts about equitable division to show its advantages as well as give advice on selecting an attorney.


What are the differences between Equitable Distribution and Equal Distribution?

Equal and equitable distribution may seem similar, but they differ significantly. Equitable distribution seeks to achieve a fair distribution of assets by taking various factors into consideration and allocating them equally across the parties involved. If one party contributed more towards the acquisition of assets or has greater financial needs they could receive a larger portion than others.


Five Facts about Equitable Distribution of Property: 

  1. An equitable division of assets takes each spouse's contribution into account in distributing assets acquired during marriage equitably. Contributions can range from financial contributions, like raising children or supporting one of your partners with their career development, all the way to supporting raising children themselves or offering encouragement in another endeavor.
  2. Equitable distribution takes into account both parties' future prospects. If one spouse gave up his or her career to provide for their family, that spouse might be entitled to more of their income in order to help ease his or her transition back into work.
  3. Equitable distribution applies to different kinds of property. Equitable distribution can apply to various kinds of property such as real estate, businesses, investments, and personal belongings. Each form of asset is assessed based on its value and relevance in relation to each party's life.
  4. Debts acquired during a marriage are divided evenly and fairly by equitable distribution, such as credit card bills, mortgage payments, or loans. This approach helps ensure neither partner is burdened with an excessive amount of debt.
  5. Each jurisdiction's laws regarding equitable distribution differ, from community property laws to an equitable distribution model. When dealing with property division it is crucial to be familiar with your state laws as these will impact how equitable distribution occurs.


What are some examples of equitable distribution?

Imagine this: when one partner provides primary income while the other manages household and child-rearing duties. In an equitable distribution scenario, both financial and non-financial contributions should be acknowledged in equal measures. An at-home spouse could potentially receive more to ensure they maintain high quality of life while successfully transitioning back to the work world.


Why hiring a divorce attorney is better than not having one?

Navigating the complex issues involved with property division during a divorce can be complex and time-consuming, which is why consulting with an experienced divorce attorney offers many advantages:

  • Legal Expertise: Attorneys specialize in family law and understand all of its nuances pertaining to property division laws.
  • Negotiation: Attorneys possess the skill necessary to negotiate for their clients, ensuring the best result possible.
  • Objective Advice: An attorney can provide objective guidance that will assist in making rational decisions during a divorce, when emotions may run high.
  • Paperwork: Legal paperwork can be complex. Working with an attorney ensures all necessary documents are filed on time and accurately.


When should you hire an attorney?

Idealistically, when suspected of separation or divorce it's wise to hire a divorce attorney as soon as possible. Doing so early allows your attorney to protect your rights and interests early on in proceedings.


Discover a suitable attorney by adhering to these criteria:

  • Experience: For best results, hire an attorney with extensive knowledge in divorce and family law cases.
  • Reputation: Check your lawyer's reputation within the legal community by reading reviews, asking for recommendations, and conducting background research on them.
  • Communication: Select an attorney who will listen carefully and offer clear explanations.
  • Compatibility: Compatibility with your lawyer is of utmost importance. After all, they will be working closely together and you should feel confident and at ease with them and their capabilities.


Why Choose Drama-Free Divorce?

Drama-Free Divorce can assist with all of the intricate processes surrounding equitable division. With years of experience in family law and have successfully assisted numerous clients with fair property division. We pride ourselves on our clear communication, excellent track record, and unwavering commitment to their wellbeing.


Suggestions for Action: 

  • Assess Your Situation: Assess financial, non-financial, and future needs before making a decision.
  • Consult an Attorney: For legal guidance in your divorce matter, schedule a consultation appointment with an experienced and reliable lawyer.
  • Collect Documents: Gather together any pertinent documentation such as financial records or property deeds that pertain to your work.
  • Negotiate Fairly: With your attorney's assistance, create an equitable division of property that takes into account all aspects of your situation.
  • Plan for the Future: Create a strategy to align all assets and finances that have been divided.

An equitable distribution of property can provide a necessary measure for maintaining fairness during life-altering events such as divorce. More than just an equal division, equitable property distribution takes into account future prospects, contributions, and needs of both partners. You can secure your future by understanding the difference between equal and equitable distribution, seeking professional legal advice, and developing a strategy plan. Contact us today at 816 615-5555 or send us an email on our Contact Page.

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