Boise Property Division Attorneys

Asset Division Guidance During Your Divorce

When you and your spouse decide to get a divorce, you will need to divide your property. This can be a difficult and contentious process, especially if you and your spouse have a lot of assets. At K. Mitchell Law, PLLC, we understand how important it is to you to protect your property and your financial future. Our Boise property division lawyers can help you understand your rights and options and work to help you achieve a fair and favorable property settlement.

For more information about property division in Idaho, call (208) 285-4272 or contact us online to schedule a consultation with our team.

Understanding Idaho's Community Property Laws in Divorce

Idaho is a community property state, which means that all property and assets acquired during the marriage are considered to be owned equally by both spouses. This includes income, real estate, personal property, and other assets. In a divorce, the court will divide the couple's community property equally, unless there is a compelling reason to do otherwise.

Factors Influencing Property Division in Idaho Divorces:

• Each spouse's income and earning capacity
• Each spouse's age and health
• Each spouse's financial needs
• Each spouse's financial resources
• Each spouse's debts and liabilities
• Each spouse's contribution to the acquisition of the property
• Each spouse's contribution to the education or earning capacity of the other spouse
• Each spouse's contribution as a homemaker
• Each spouse's conduct during the marriage
• Each spouse's potential for future acquisition of assets
• Each spouse's ability to pay
• Any other factors the court deems relevant

It is important to note that the court will only divide marital property, not separate property. Separate property is property that was owned by one spouse before the marriage or that was acquired by one spouse during the marriage by gift or inheritance. Separate property is not subject to division in a divorce.

Community Property vs. Equitable Distribution in Idaho

Idaho is a community property state, which means that all property and assets acquired during the marriage are considered to be owned equally by both spouses. This includes income, real estate, personal property, and other assets. In a divorce, the court will divide the couple's community property equally, unless there is a compelling reason to do otherwise.

It is important to note that the court will only divide marital property, not separate property. Separate property is property that was owned by one spouse before the marriage or that was acquired by one spouse during the marriage by gift or inheritance. Separate property is not subject to division in a divorce.

Is Idaho a 50/50 State For Divorce?

Idaho follows equitable distribution principles rather than a strict 50/50 split in divorce cases. While the goal is to achieve a fair and just division of marital assets and liabilities, it does not necessarily mean an equal distribution. Equitable distribution considers various factors to determine a fair allocation based on the unique circumstances of each case.

Idaho courts evaluate factors such as the duration of the marriage, each spouse's financial contributions, the earning capacity of each party, and the non-financial contributions made to the marriage. Other considerations include the age and health of each spouse, their respective needs, and whether one party contributed significantly to the education or career advancement of the other.

Property acquired during the marriage is generally considered marital property subject to division, while separate property remains with the original owner. Marital debts are also part of the equitable distribution process.

It's important for divorcing couples in Idaho to understand that equitable distribution aims to achieve fairness, even if it does not result in a perfect 50/50 split. Seeking legal advice is crucial to navigating the complexities of property division, ensuring that both parties receive a fair share based on their contributions and needs. Consulting with experienced Boise property division attorneys from K. Mitchell Law, PLLC can help individuals make informed decisions and advocate for their interests during divorce proceedings.

For more information about property division in Idaho, call (208) 285-4272 or contact us online to schedule a consultation with our team!