When it comes to property division in an Iowa divorce, equitable distribution is used to decide how martial property and debts will be divided. Equitable distribution, or ‘what is fair’, varies from divorce to divorce, although there is certain criteria to guide the division of assets. The court will weigh various factors when dividing marital property in an Iowa divorce:
- Income of each spouse
- Earning capacity in the future
- The value of separate property each party owns
- The value of the marital property
- The contributions each party made to the marriage whether as a wage earner or a stay-at-home parent
- The length of the marriage
- The age and health of the parties
- Whether there are children involved
- Other factors relevant to the equitable division of marital property and debt
Contact An Experienced Iowa Marital Asset and Debt Division Divorce Lawyer
Equitable distribution of property is not necessarily a 50\50 split, but rather what is fair depending on the unique circumstances of the case. Marital property division is but one aspect of a divorce which might include the payment of spousal maintenance or alimony and the payment of child support. It is important to work with an experienced attorney to achieve the most favorable outcome. Contact the Iowa marital asset and debt division divorce lawyers of Stoltze & Stoltze PLC for immediate assistance at 515-244-1473.
