You and your spouse can decide and have the court approve the division, or if you cannot decide the court will decide for you us. The court will make a final “equitable apportionment” between the parties of the parties’ marital property. The following factors will be considered:
- Duration of the marriage together with ages of the parties at the time of marriage and at the time of divorce.
- Martial Misconduct or fault of either or both parties, whether or not used as a basis for divorce, if the misconduct affects or has affected the economic circumstances of the parties, or contributed to the breakup of the marriage. However, the court will not look at marital misconduct if the conduct took place after the happening of the earliest of
- Entry of a temporary order in a divorce or separate maintenance action;
- The formal signing of a written property or marital settlement agreement; or
- Entry of a permanent order of separate maintenance and support, or of a permanent order approving property or marital settlement agreement between the parties.
- The value of the marital property and the contribution of each spouse to the acquisition, preservation, depreciation, or appreciation in the value of the marital property, including the contribution of the spouse as homemaker, considering the quality of the contribution as well as its factual existence.
- The income of each spouse, the earning potential of each spouse, and opportunity for future acquisition of capital assets.
- The physical and mental health of each spouse.
- The need of each spouse or either spouse for additional training or education to achieve income potential.
- The nonmarital property of each spouse.
- The existence or non-existence of vested retirement benefits for each or either spouse.
- Whether separate maintenance or alimony has been awarded.
- The desirability of awarding the family home as part of equitable distribution or the right to live therein for reasonable periods to the spouse having custody of the children.
- The tax consequences to each or either party as a result of any particular form of equitable apportionment.
- The existence and extent of any support obligations, from a prior marriage or for any other reason or reasons, of either party.
- Liens on the marital property to be equitably divided, or separate property of either of the parties and any other existing debts incurred by the parties or either of them during the course of the marriage.
- Child custody arrangements and obligations at the time of the entry of the order; and
- Other relevant factors as the trial court shall state in its order.
See SECTION 20-3-620. Apportionment factors.