Assets Subject to Equitable Distribution
9/23/2024
In divorce law, equitable distribution aims to fairly allocate assets acquired during the marriage. It considers each spouse’s contributions, financial circumstances, and future needs. This process typically involves identifying and valuing various types of assets. It aims to facilitate an equitable division that reflects the principles of fairness and justice.
Real estate assets. This includes properties such as houses, land, vacation homes, and commercial buildings acquired during the marriage.
Bank deposits. Money held in savings accounts, checking accounts, certificates of deposit (CDs), and other banking instruments are marital assets if acquired during the marriage.
Investment portfolios. Any investments made during the marriage, such as stocks, bonds, mutual funds, and brokerage accounts, fall under this category.
Business holdings. The value of a business can be subject to equitable distribution if either spouse owns a business or has a stake in a business acquired during the marriage. The process may involve appraising the company and determining each spouse’s share.
Intellectual property. Intellectual property assets encompass patents, copyrights, trademarks, and royalties. These are considered marital property if acquired during the marriage.
Courts will assess each asset’s value, contribution to the marriage, and any applicable legal considerations in divorce or separation. Understanding the process of dividing assets is crucial to ensure fair outcomes for both parties.
The Irving Law Firm
9253 Mosby St., 2nd Floor
Manassas, VA 20110
