Helping You Divide Assets And Debts At The End Of Your Marriage
We don’t have to tell you that the end of a marriage can be a stressful, emotional and challenging time. Not only are you dealing with the end of a relationship, but you must now also confront the unavoidable untangling of your household finances. The division of your marital assets and debts can make this difficult time even more complicated, both emotionally and financially. Working with an experienced, caring and compassionate attorney can help you resolve these issues and help you move toward a more certain future.
At Greg Ryan & Associates, Attorneys at Law, LLLC, we have helped thousands of Hawaii clients, from a wide variety of financial backgrounds, successfully divide their marital assets and debts, creating a strong and certain foundation for their lives after marriage. Whether you have a simple or complicated financial estate, hold assets like real estate, investments, a business, retirement accounts or military benefits, we can guide you through your options and help you construct a settlement that meets your needs after your divorce is finalized.
How Is The Division Of Your Marital Assets and Debts Determined?
Hawaii is an equitable division state, which means that most assets and debts acquired during the marriage are subject to division between the spouses, regardless of which spouse acquired it or whose name is on it. Exceptions include gift inheritances received during the marriage.
If you and your spouse can agree on how to divide your marital assets and debts, the Hawaii Family Court Judge will usually approve the agreement. However, if you and your spouse cannot agree, then the Court will make the division for you. The Court will divide marital assets and debts based on equity, or fairness, not necessary equally, although in most cases the Court decides that it is equitable to divide all marital assets and debts equally. In dividing marital assets and debts, the Court will consider various factors, including:
- The length of your marriage
- Your and your spouse’s post-marriage employability and earnings
- You and your spouse’s status regarding health and education
- You and your spouse’s economic and non-economic contributions during the marriage
- Who will any children be residing with after the marriage
- A spouse’s dissipation of assets during the marriage