"Equitable distribution" is followed, meaning that the court attempts to distribute the property in a manner that is "fair and just". This doesn't necessarily mean that the property is distributed evenly, only that it is done in a way that is fair.
To do this, the court will consider a variety of factors, including the parties' income, contributions to the marriage, the standard of living, and even the potential for future income after the divorce is final.Additional InformationIn an equitable distribution state property that is owned by either spouse is considered to be marital property and can be redistributed in order to make the distribution fair to each party according to their respective needs. You can read more about it at the link below.
Montana is an equitable distribution state.
In answer to my own question I have found that Iowa is not a community property state rather Iowa is an "equitable distribution" state. Property is divided up in a fair and equitable maner
North Carolina is an equitable distribution state. This means that all marital property is split in an equitable manner. This does not mean that it will be equally divided.
Pennsylvania is not a community property state. It's an equitable distribution state. Under the law, all property acquired during marriage, regardless of whose name it is in, is part of the marital estate and is subject to equitable distribution upon divorce. The court looks at several factors to determine a fair and equitable division of assets.
No, the state of Massachusetts is not considered a spousal state when it comes to dividing property in divorces. Instead, it is considered an equitable distribution state.
As long as the inheritance is kept separate and apart from the marital assets, an inheritance by one spouse is considered the sole property of the inheriting spouse in an equitable distribution state. If the inheritance is devoted to the so-called "marital pot" by co-mingling it with other assets, it loses its separate identity and becomes just another asset of the marriage subject to equitable distribution.
It can be fraudulent "Where jointly-held property is transferred for the purpose of defrauding creditors, the transferor may not then share in the value of the transferred asset for purposes of equitable distribution". Consult legal counsel for more information.
Equitable refers to fairness. For example, an equal distrbution of marks in an exam would require that everyone got exactly the same score. An equitable distribution wold reflect the fact that some people gave better answers than others and so were more "deserving" of a higher mark.
Pennsylvania is not a community property state.Pennsylvania is not a community property state.Pennsylvania is not a community property state.Pennsylvania is not a community property state.
Kentucky is an equitable distribution state. Equitable does not mean equal, or half, but what the court considers fair.
The description of socialistic approach tot he goal of equitable distribution of wealth is the democratic process. The socialist's main concern with capitalism is that it creates economic inequality.
Equitable distribution is designed to provide for the needs of both spouses as much as possible without worrying about splitting the property down the middle. But because there are so many variables, there is no set rule as to how your property might be divided.