Have you recently filed for divorce? Do you want an attorney who can help with the division of property? Well, you have come to the right place. At Boise Family Law, our Boise division of property attorneys have handled many cases over the time we have been in business.
We are ready to start working on your case. With our experience, we can make sure that every partner walks away with their right share. Call us now to make an appointment with the best Boise Family Law attorneys to handle your case.
What Is Division of Property In The State Of Idaho?
If you have filed for a divorce in Idaho, you need to decide how to divide your property and debts or the court will do it for you. In the state of Idaho, there are community property laws that outline that all debts and assets acquired by the couple during their marriage belongs equally to both spouses. Therefore, the value of the property awarded to each spouse should be equal.
Some couples seeking a divorce in Idaho are able to agree on the proper division of property and debts. However, if you are having trouble, you need to get legal assistance. Thanks to Boise Family Law, you can get the help you need when planning to divide your marital property. Call us now so we can get started on your case.
What Is Community Property And Separate Property?
In Idaho, if one of the spouses owned property alone before the marriage or acquired property by inheritance or as a gift after the marriage, that will be considered the spouse’s separate property. If you are claiming separate property, you can prove this using financial documents and any other documents. Separate property in a divorce case includes assets you have acquired through the sale or exchange of other property.
Note that, any income generated by the separate property during the marriage such as rent or profits will be classified as community property. However, the couple can agree in writing that the income will become separate property. A couple might change separate property into community property and vice versa. For instance, if you owned a family home before marriage, you could change it into a community property after marriage.
When this happens, the court will take it into evidence that the owner wanted to gift their spouse the family home. Also, community property can become a separate property if one person executes a deed to convey the entire property to their spouse. In some cases, a spouse might change a separate asset into a community unintentionally. It happens through commingling separate property with marital property.
A separate bank account belonging to one person can become community property if the other spouse makes any deposits to it. Also, a house owned by one person can become community property if both spouses pay any expenses on the property including mortgage payments. Most of the assets are partially separate or community such as retirement accounts where one spouse contributed to both accounts before and after the marriage or a business that one spouse started before the marriage and continued it after.
It’s tough to distinguish between community property and separate property during a divorce in Idaho. In most cases, if one spouse owned a business or asset where the other spouse contributed labor or funds during their marriage. If it’s tough to distinguish community and separate property during your divorce, you need to get the best advice from Boise Family Law. With our experience, we should be able to determine whether or not the property is community or separate during your divorce. We are here to help you.
What Is Equitable Distribution In Idaho Property Division?
Equitable distribution of property during a divorce case in Idaho will determine how the community property will be divided among the couple. The process takes into account a few factors when dividing property such as how long the couple was married, their needs, and the financial contributions from each spouse during the marriage. Here’s a summary of everything that is taken into account.
If one of the spouses is at fault for the divorce, the judge might use them to justify a higher percentage to the injured spouse.
Spouses who have spent marital assets fraudulently or wastefully will be awarded a lower percentage in the division of property.
Income And Earning Capacity
Here, the court will consider the incomes and earning capacities of both spouses. Of course, these might be affected by health, age, and education. Therefore, the spouse with the lower economic prospects will receive a lower percentage.
If you have contributed significantly to your partner’s education or earning capacity, you might receive a higher percentage of the marital property.
Custody Of Children
If you have full custody of the children after the breakup, it might end up in you receiving a higher percentage of the estate or the family home.
With the experts at Boise Family Law on your side, you can rest assured that you and your spouse will receive a fair share of the property without any hassles. Call us now to schedule an appointment.
What Is The Process Of Dividing The Property In A Divorce Case In Idaho?
The community property will be divided by assigning items to each spouse. Also, one person can choose to buy out the other spouse. Finally, they can choose to sell the property and divide the assets. In some situations, the couple decides to hold the property together even after a divorce but it might not be a very attractive option. For instance, some couples might choose to keep the family home until the children have completed school.
Besides the assets, the couple must assign the debt incurred during the marriage such as car loans, mortgages, credit card debts to one of the spouses. Remember, the separation or divorce will not be binding to the creditors. It’s a good idea to pay off the debts once the divorce is finalized.
How Do I Find The Best Division Of Property Lawyer For My Case?
If you are looking for a property division lawyer during your divorce, you have come to the right place. With our experience, we can make sure that everyone walks away with their fair share of the proceeds from the community property.
Also, we have worked on numerous cases in the past and are ready to share a reference and testimonials from our previous clients so you can be satisfied with hiring us for your case. Even better, we charge an affordable rate so we are always budget-friendly. Call us now and we can start working on your case.
Contact a Boise Division of Property Lawyer at Trilogy Law Group
Yes, a divorce can be overwhelming for the couple involved and the children, if any. It’s prudent to make sure that everything flows smoothly. Thankfully, with Boise Family Law by your side, you are in the best hands. We can make sure that your property division process goes off without a hitch. We should be able to make a proper distinction between the community and separate property and avoid any hassles.
If you want to work with the best, you need to call us now. The sooner we can start working on your case, the better for everyone involved. With our experience in handling property division cases in Idaho, you can rest assured that we will be rooting for you. We are here to make sure that the case flows smoothly and everyone walks away satisfied. Call us now and let us work for you.