What is Difference Between Community Property & Equitable State
What is the difference between a community property state and an equitable distribution state when it comes to divorces in Jefferson County? A community property state is where spouses have joint ownership of almost all of the assets and debts that were acquired over the course of their marriage. This means that all of the assets and debt that you and your spouse have at the end of your marriage will be treated as community property meaning that you and your spouse have equal ownership of them.
Community property is the assets that you hold together that you have bought together. There is also separate property that you come into the marriage with, this type of property will not have to be distributed with your spouse. However, the longer that you have been married, the more of a chance that community property and separate property will become intertwined and combined. If these assets get combined in the course of the marriage, it can often be difficult for a judge to decide how to disperse the property between the spouses. Alabama is not a community property state, the community property states are: Louisiana, Texas, New Mexico, Arizona, California, Nevada, Idaho, Washington and Wisconsin.
Alabama along with forty other states are considered to be equitable distribution states. Equitable distribution states divide property between the spouses after considering a various number of factors, which your Pelham divorce lawyer can help you navigate. The judge has the responsibility to divide all of the assets and debts fairly and equitably. This means that the judge should look at all of the relevant facts and circumstances to come to a decision on who gets what property in the Blount County divorce. Judges generally have a good amount of discretion in deciding how to split the assets equitably. In contrast, in a community property state, judges assume that all property is jointly owned. The judge will then just divide the property in half. It is important to reach out to an experienced divorce attorney in Bessemer to ensure that your rights and assets are protected.
Attorney Steven A. Harris regularly blogs in the areas of family law, bankruptcy, probate, and real estate closings on this website. Mr. Harris tries to provide informative information to the public in easily digestible formats. Hopefully you enjoyed this article and feel free to supply feedback. We appreciate our readers & love to hear from you!
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