When a couple decides to divorce, one of the most important decisions they will make is how to divide their property. This can be a difficult process, and there are many factors to consider. In this article, we will discuss the 3 most important factors in a divorce property settlement (DPS).
Factor #01: The Length of the Marriage
The length of a marriage is often a key factor in DPS. Generally, the longer the marriage lasted, the more likely it is that the court will award alimony and/or equitable distribution. This is because courts tend to believe that couples who have been married for a long time should be entitled to receive some sort of financial support after divorce.
Factor #02: The Age of Each Spouse
Another important consideration is the age of each spouse. Courts often consider whether one spouse is older or younger than the other, and this can impact how property is divided. For example, if one spouse is much older than the other, the court may award them a larger share of the marital property.
Factor #03: The Financial Situation of Each Spouse
The financial situation of each spouse is also a major factor in DPS. If one spouse is much wealthier than the other, the court may award them a larger share of the marital property. Conversely, if one spouse is less financially stable, the court may award them more assets to ensure that they are able to support themselves after divorce.
These are just a few of the factors that courts consider when dividing marital property during a divorce settlement. To learn more, or to discuss your specific case, contact an experienced family law attorney today.
We hope this information has been useful to you.
