People usually marry with expectations that their relationship will last. However, for some couples, splitting up is inevitable, and those individuals face divorce proceedings.
The division of property is a strong concern for many individuals. There are a few key things to understand about property division, particularly in New Hampshire.
There is no set formula that all judges use to determine the division of property. However, they do consider certain factors in determining how to split assets. Some of the most common considerations include the following:
- Age and health
- Length of marriage
- Contributions to spousal development or education
- Child custody
- Causation of divorce
These are just a few of the many factors that the courts take into account. Once they make all of their considerations, the judge then determines an equitable way to divide the assets.
According to New Hampshire's property division laws for divorce, the courts see all property as marital property and divide them equally. This includes assets that individuals acquire before the marriage, as well as any gifts that either party receives, such as an inheritance, during the marriage. Those individuals who desire certain assets to count as separate property must present their argument to the judge in regards to the assets.
Establishing separate property
Even if an individual makes a strong plea to count certain assets as separate property, it is still up to the judge to make the final determination. However, if the parties are able to come up with an agreement amongst themselves, the court will usually defer to their wishes. Therefore, it can be beneficial for parties to seek to negotiate the division of property amongst themselves, and it may be helpful to consult with an attorney through the process.
This is just a brief overview of a few key concepts concerning property division in a New Hampshire divorce. Take some time to review and understand the law and evaluate your situation to determine the best option for you.