Equitable distribution is the process by which assets and liabilities acquired during the marriage are divided between the parties. The assets and liabilities to be divided include tangible property (homes, cars, boats, household items) and intangible property (bank accounts, retirement and 401(k) accounts, credit card accounts). In order to be divided, these items must be acquired during the marriage by either party individually or by both in their joint names. In dividing assets and liabilities, the court must always start with the premise that there should be equal distribution unless there is justification for unequal distribution based on an evaluation of the statutory factors. To view these factors click here. INSERT.
In some cases it may be appropriate for the court to award an interim partial distribution during the pendency of a case. This can only be done for good cause shown and upon a sworn motion establishing a specific factual basis for the relief.
For an analysis of the assets and liabilities that may be subject to distribution in your case, call the attorneys at Cortes Hodz, P.A.