Two systems: community property and equitable distribution
States fall into two camps. A handful of 'community property' states generally treat what you earned or acquired during the marriage as owned 50/50. The majority use 'equitable distribution,' dividing marital property fairly — which is not always equally — based on a list of factors.
What counts as marital property
Knowing what's on the table is half the battle.
Marital property
Generally, assets and debts acquired during the marriage — homes, vehicles, bank and retirement accounts, and the debts that go with them.
Separate property
Typically what each spouse owned before the marriage, plus gifts and inheritances to one spouse — though commingling can blur the line.
Locking it in with a settlement agreement
In an uncontested divorce, you and your spouse decide how to divide everything, and the marital settlement agreement records it. A clear, complete agreement is what lets the court finalize your divorce quickly — and it's the document SimpleDivorce prepares from the answers you provide.