When I get divorced everything will be split 50/50. But what is 50/50?
Published On: October 22, 2017 Posted by: Shari Frasure
Most people assume that when 2 people divorce that everything will be split 50/50 (equally), right? But what is everything, who determines what is marital property, how do we determine what the value is? First 50/50 can be hard to determine but division is not equal it is equitable distribution. Kentucky Equitable Distribution State
Equitable distribution is the distribution of property and debt obligations used by courts in most states when dividing marital property during divorce proceedings. Equitable distribution does not mean “equal” division – it means “fair” division.
Many people assume that they can just create their own list and give it whatever value they think; very seldom do the 2 parties agree about what is “marital property” in the first place so what do you do?
First, you need to list everything you own. If you have a good relationship with your soon to be EX the process is much easier and less costly. Both parties need to make separate lists so that you can determine who gets what and how much it is worth.
I can help you determine the value of your existing home FREE No Obligation just go to the bottom of this page and click on