Best Family Law Attorneys in Columbus, OH

Asset Division (continued) There are differences in how some states divide assets. Many states apply equitable property division in which a judge divides the property in a way that they believe is fair according to the couple’s specific conditions. Equitable property division does not guarantee an equal division of property, however, as the judge must often consider certain factors outlined in guidelines that are set by the state. In other states, such as California and Texas, assets are divided according to the community property rule that specifies any marital property is equally owned by each spouse. In these states, assets are divided 50/50. Whether coming to a mutual or court-ordered agreement, people should hire an attorney to negotiate the division of assets or go through mediation. To prepare, one should create an honest list of their assets, determine what is marital property and what is separate property, and hire an appraiser to value every asset.