marital property laws

Marital property laws determine how assets and debts are divided between spouses during a divorce or separation. Typically, any property acquired during the marriage is considered marital or community property, subject to division, regardless of whose name is on the title. Assets owned before marriage or received as gifts or inheritance may be considered separate property. Laws vary by jurisdiction, affecting whether property is divided equally or based on other factors. The goal is to fairly distribute assets, respecting individual contributions and circumstances, while protecting both parties' financial interests.