|
What
is, in plain English, the difference between a
"community property state" and an "equitable
distribution state". In a community property
state the marital property is generally split
50/50. However, Maryland follows equitable
distribution rules which means the Court does not
have to divide everything equally.
Here is what the Court looks at:
1.
First they identify and determine what is marital
property
2.
Next they determine the value of marital property
3.
Finally, they decide whether or not to grant a
monetary award and/or divide the marital pension
assets as an adjustment of the equities and rights
of the parties.
4.
Earning power of the spouses compared to the other
Spouse
5.
Separate property of the spouses
6. One spouse having done all the work to acquire
the property or inherited the property
7. The value that one spouse contributed as the
home-maker for the family
8. Economic fault of one spouse in wasting and
dissipating marital property
9. Duration of the marriage
10. Age and relative health of the spouses
11. The responsibility for providing for children
of the marriage
12. Spousal abuse or marital infidelity (to
penalize the offending spouse).
For a very useful article on how a small business
is valued during divorce
However, as a general rule the Court will divide
fairly equally marital property in the typical
marriage setting. |
Equitable Distribution
Vs. Community Property 
