Types

• There are two primary types of laws dealing with division of assets. Community property operates from the premise that the assets accumulated during the marriage are divided equally between the spouses. Equitable division does not necessarily divide assets equally but rather uses a less defined "fairness" standard.
  
  

Community Property

• California is perhaps the best known community property state. Generally the value of the assets accumulated during the marriage are totaled and an even split is made between both spouses.
  
  

Equitable Division

• Equitable division laws are on the books in a majority of states. These laws require a case by case examination of facts and factors to determine how assets are divided between the parties.
  
  

Considerations

• There are a variety of factors that alter the manner in which assets are divided. The most significant factor is the existence of a prenuptial agreement.
  
  

Warning

• The division of assets during a divorce presents some of the most challenging issues in family court. Your interests likely are best protected by retaining an attorney to represent you in your divorce.