Honolulu Property Division Attorney

Equitable Division of Assets & Debts in Hawaii

Aside from topics of alimony and children, the distribution of property is one of the most hotly contested discussions involved in any divorce situation. In the state of Hawaii, the court will often accept a fair and reasonable division of property for the divorcing parties. If the parties cannot agree, however, the Family Court will divide the divorcing couple's marital estate within the Judgment of Divorce. It is important to have a Honolulu lawyer by your side throughout this process in order to effectively establish a property division agreement.

How Property Is Divided

The marital estate is composed of marital assets and liabilities that are obtained during the course of the marriage. Non-marital assets are considered to be the property that is acquired prior to the marriage or through a gift. In Honolulu, only marital property will be separated. The court usually assigns all the debt acquired during the course of the marriage, to either one spouse or the other pay their own debts. There are many determinations to be made and factors to consider.

What Affects Equitable Distribution in Hawaii?

In Hawaii, equitable distribution of marital assets and debts is determined by a variety of factors, including:

• Length of the marriage
• Income and earning potential of each spouse
• Age and health of each spouse
• Standard of living during the marriage
• Contributions of each spouse to the marriage (including non-monetary contributions such as childcare and homemaking)

The court will also consider any prenuptial agreements or postnuptial agreements, as well as any other relevant factors that may impact the distribution of assets and debts. Additionally, in Hawaii, the court will consider the tax consequences of the distribution of assets and debts on the parties.

Wise Counsel from a Lawyer in Honolulu

The division of property in the state must be equitable, which means that it must be separated in a fair, but not always equal, manner. Deciding what is equitable is unique to each case and the divorcing couple. When making decisions as to the distribution of property in a divorce, the judge can take into consideration many factors.

There are unique circumstances and considerations to be made in each divorce. The court will separate the property as it deems necessary and each item is given a value. It is important to have an experienced attorney by your side throughout this process to ensure that your rights are protected.