What is Equitable Distribution of marital property?
It is a method for distributing property acquired by either spouse upon the divorce. The Supreme Court must distribute “equitably” all “marital property” regardless of the manner in which title is held, considering the following factors: o Income of each party at time of marriage o Income of each party at time of commencement of the divorce action o Property of each party at the time of marriage o Property of each party at the time of the commencement of action for divorce o Duration of marriage o Age of both spouses o Health of both spouses o Need of custodial parent to occupy or own marital residence o Need of custodial parent to use or own household effects o Loss of inheritance rights after the divorce o Loss of pension rights upon after the divorce o Any award of maintenance Equitable claims to or interest in or direct or indirect contribution to the acquisition of the marital property by the spouse not having title, including: Joint efforts; Expenditures; Contributions as a spous
