Family Law: Dissolution's Consequences

Question 1

Equitable distribution

Answer 1

marital property is subject to equitable distribution (fair and reasonable) by the court.

Question 2

Separate property

Answer 2

property not subject to ED; includes:

(1) property acquired before marriage
(2) property acquired by gift/inheritance
(3) property descried as separate property in prenup

Question 3

Marital property

Answer 3

all property acquired by either or both spouse during the marriage, that is not separate property (pension benefits, professional degrees/practices, special skills, marital gifts). Is subject to ED

Question 4

Factors of distribution

Answer 4

the court must consider:

(1) income and property of each party
(2) duration of the marriage and age/health
(3) custodial parent’s need to occupy the marital home
(4) loss of inheritance/pension
(5) probable future financial circumstances
(6) tax consequences
(7) any other factor that the court expressly finds to be just and proper.

Question 5

Factors for spousal support

Answer 5

Court will consider similar factors as for distribution, but will also consider:

(1) reduced or lost earning capacity by either party
(2) presence of children in each home
(3) contributions (labor/service) made of by the party now seeking maintenance

Question 6

Modification of Spousal support

Answer 6

can be made when there have been substantial changes in circumstances (remarriage/cohabitation, change in custody, reduction in income, or loss of employment). Death of either party may also serve to terminate support