Different states have slightly varying rules when it comes to dividing assets in a divorce. Therefore, it is important that you understand the specific laws in the state that you are filing for divorce in. In Rhode Island, community property is not recognized. This essentially means that marital assets will not be subject to a 50/50 split during a divorce. Instead, many factors will be assessed by courts to establish an equitable and fair outcome.
If you are getting divorced in Rhode Island, it is important that you understand the factors that will be taken into account when dividing assets. This will enable you to be able to predict the likely outcome of asset division in your situation and to prepare accordingly.
Each spouses’ contribution to the marriage
Many aspects of marriage need to be maintained and preserved. Financial contributions through work are important, but homemaking and childcare are also vital contributions.
The circumstances surrounding the marriage
The courts will take into account the age and health of each spouse. They will also look at the length of the marriage and the circumstances of the marriage.
Irresponsible actions that were taken by either spouse regarding assets
If one spouse had a problem with gambling or alcohol and acquired a significant amount of debt, they will likely be responsible for this debt after the marriage has been finalized.
There are countless factors that the courts take into account when deciding on asset division. It is important that you understand how you can build a case that maximizes the marital assets you will be entitled to.