Divorce is court-ordered and court-approved that comes as a result of divorce.
Included in those documents, is a divorce property settlement which makes allocations for distribution of all marital property between spouses and possibly their.
State laws differ on the manner in which divorce property settlements are allocated and generally, settlements are very state-specific in the allocation and in language.
Some states handle marital property as joint property and it is distributed equally between the two individuals getting divorced. Whereas, other states distribute property based on other factors, such as the grounds for divorce between the couple.
Each state has its own laws regarding divorce and the appropriate distribution of property. Yet, in some cases, couples mutually choose the fairest manner in which to achieve a divorce property settlement.
In that case, the courts simply approve the couple’s divorce settlement and help to enforce it, should an individual be found in non-compliance with the divorce settlement.
For couples that are unable to come to an agreement on their own, judges make all determinations for their divorce property settlement to avoid continued conflict among the couple.
Divorce property settlements may be utilized as a separate document from the settlement that makes determinations regarding any involved children.
In fact, childless couples only require a divorce property settlement since there are no other issues at hand. Issues of spousal support can also be handled in those divorce property settlements, as assets and salary are considered marital property.
For couples that require court intervention, judges will make all determinations as to the details contained within each clause.
However, judges are likely to take testimony and evidence into consideration when making those determinations. While some state divorce laws are very specific, judges still generally have some discretion when making decisions.
In cases where the for the involves a spouse being accused of violating the marriage contract, the judge may decide to allocate a higher percentage of the marital property to the ‘innocent spouse’.
For example, a spouse that committed adultery may be required to pay a higher percentage of spousal support, depending on the individual state’s divorce laws.
Divorce property settlements take many factors into account. In some cases, couples are able to make determinations on their own and divide all marital property in a mutually beneficial way.
In other cases, a judge makes all determinations for each clause contained within the agreement. In either case, a judge approves the final divorce settlement before it goes into effect. Court approval is generally a speedy process.
Whereas court intervention in divorces, generally drags out the process and it can also be much more costly to couples. In addition to the added costs of lawyer fees, the couple may find that they are unhappy with the judge’s determination.
Ironically, couples that require court intervention often find that the cost of the divorce process dwarfs the actual value of the marital property that was in dispute.