In a divorce proceeding, the court will determine the parties’ rights in marital property and separate property. The court will likewise provide for the disposition of these two types of property.

Marital property
Marital property means any property which is acquired by either or both spouses during the marriage, and prior to the execution of a separation agreement and/or the commencement of a suit for divorce. It is immaterial which spouse holds title to the property. Marital property must be equitably distributed between the parties based upon the court’s consideration of specific factors including, but not limited to, the following:

• The income and property of each spouse at the time of the marriage and at the time of divorce
• The duration of the marriage and the age and health of the parties
• The need of a parent to occupy the marital residence
• The marital contributions of each spouse
• The liquid or non-liquid character of the property to be distributed
• The probable future financial circumstances of each party
• The tax consequences to each party
• Whether either party has wastefully dissipated marital assets

In addition to traditional concepts of property, courts are empowered to distribute intangible assets such as an interest in a business or a professional license or degree. In fact, virtually any asset which has a discernable value, and which was acquired in whole or in part during the marriage, is subject to equitable distribution.

Separate property
Separate property consists of property acquired by either spouse prior to the marriage, or after the commencement of a divorce suit or execution of a separation agreement. Additionally, the following types of property constitute separate property even if acquired during the marriage:

• Property gifted to one spouse
• Property acquired by a spouse by bequest, devise or descent (i.e. through an estate proceeding)
• Compensation for personal injuries sustained by a spouse