Property Division Basics – DIVORCE & ASSETS
In every divorce, couples must divide marital property and debt before the judge will grant the request for a divorce Assets for court. Couples have two choices: work together to determine what property each spouse will take away from the relationship, or ask the court to decide for you.
If you live in a community property state, the court presumes that any assets (or debts) accrued during the marriage belong equally (50/50) to both spouses. If you have property that belongs to you, whether you brought it with you to the marriage, or you acquired it alone during your relationship, you’ll need to ask the court to award the separate property to you.
In equitable distribution states, the court will divide marital property fairly between the spouses, which doesn’t always mean a 50/50 split. The court will categorize the property as marital or separate before the judge awards any portion to either spouse. If you have separate property, you’ll need to prove your ownership with receipts, witnesses, or any other evidence
Proof of assets
We live in a litigious society. Disputes happen and if you’re on the accusing side, you’ll want to make sure you have the upper hand. Whether using an ex-roommate or ex-spouse to retrieve your belongings, the process of gathering all the documentation is time consuming and resource intensive. Don’t worry — Owner’s Proof is your saving grace when you’re under fire in the courtroom because you can furnish proof of ownership on the spot in no time at all.