- Family Law Overview
- Division of Assets
- Child Custody
- Child Support
- Divorce Modifications
There are a few questions we often hear from our first-time divorce clients. They usually fall into one of two categories: child custody and the division of marital property and assets. In this blog, our goal is to help you understand the latter, the basic guidelines surrounding the division of marital assets in Rhode Island.
If this is your first marriage, there’s a good chance that you decided a prenuptial agreement wasn’t necessary. For most people, marriage symbolizes the beginning of a beautiful future together. Often, it seems completely counterintuitive to consider what could happen if things go wrong during the bliss of planning for your wedding. So, while we always recommend a prenuptial agreement, many couples opt to tie the knot without one.
The process for dividing marital property and assets varies by state. Rhode Island is an equitable distribution state, meaning the assets are divided equitably between the parties. In this article, we’ll examine what that means for you in terms of your marital estate. If you have specific questions regarding your divorce, contact us today.
No. In a divorce, the assets, property, and debts you have accrued during your marriage are considered part of your marital estate. Rhode Island is an equitable distribution state, meaning your marital estate is divided fairly, but not necessarily 50/50.
The factors influencing equitable distribution include but aren’t limited to:
Although Rhode Island is a no-fault divorce state, issues such as infidelity, domestic violence, and substance abuse might be used during your divorce to impact a court’s decision on how to divide assets equitably.
If you and your soon-to-be-ex are in agreement about how you want to divvy up your assets, the Rhode Island family court will not force you to comply with equitable distribution guidelines.
If you and your spouse agree on most, but not all, aspects of dividing your marital estate, the court will use equitable distribution to help determine how that portion gets divided.
Even if you and your spouse agree on how to divide property and assets, you should always consult a lawyer to review your plan before presenting it to the court. Given the number of issues involved and the potential implications to your financial future, dividing your marital estate is one of the most important issues you’ll work through in your divorce.
At Kirshenbaum Law Associates, we have a reputation for being tough trial attorneys and working hard to ensure our clients get the best settlement possible.
A small sample of our results include:
While we can’t guarantee specific results, we can assure you that our reputation, professional experience, and unrivaled track record of success, set us apart from other Rhode Island law firms.
For more information on how we can help you, contact Kirshenbaum Law Associates at 401-467-5300.
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