C. Equitable Distribution

Question 1

What is required for Equitable Distribution of Marital Property?*

Answer 1

1) Compulsory financial disclosure
- Sworn statement of net worth
- By BOTH Parties

2) Court’s consideration of Spouse’s contributions (direct/indirect) to other Spouse’s enhanced earning capacity
- NOT arising from licence/degree/celebrity goodwill/career enhancement

NOT separate property

FYI NO presumption of equal division

Question 2

What is considered Marital Property?*

Answer 2

Acquired by Parties before/during execution of;

• Separation agreement
• Commencement of action

Examples

• Interspousal gifts
• Pension benefits
• Professional practices

Question 3

What is considered Separate Property?*

Answer 3

Acquired by Parties before marriage

Acquired by bequest/devise/descent/gift from Non-Spouses

Compensation for personal injuries

Acquired in exchange for/increase in value of separate property

• Due to inflation/market forces
• NOT due to non-titled spouse’s direct/indirect contributions (Parent/Homemaker) (marital property)

Described as ‘separate property’ by parties’ valid written agreement

Question 4

What if Separate Property is commingled with Marital Property?*

Answer 4

If commingled through deposit into joint account/joint names => Presumption of gift arises => Marital property (UNLESS rebutted)

Question 5

What factors may determine amount of equitable distribution?*

Answer 5

Duration of marriage

Age of Parties

Health of Parties

Custodian’s need to keep home

Loss of health insurance/pension benefits

Maintenance awards

ANY other factor which court shall find justly improper

Question 6

Who has burden of proof regarding Separate Property?*

Answer 6

Proponent of property