During a marriage, income and property are generally regarded as shared resources. Over the years, it is likely that the way that married couples budget and run their finances is commingled. One of the most problematic aspects of going through a divorce is the fact that property needs to be divided.
If you are going through a divorce in the state of Hawaii, it is important that you take the time to understand the way that the law works in the state. It is a good idea to make preparations before filing so that you can anticipate how the property division process will likely take its course.
How does the law work in Hawaii when it comes to property division?
All states have differing laws when it comes to property division after a divorce. Hawaii is not a community property state, which means that all property will not be automatically divided in a 50/50 split. Instead, the judge will take several factors into account to decide what the most fair and appropriate division of assets will be.
Can a couple decide how their property should be split by themselves?
Of course, in an ideal situation, couples would be able to amicably come to an agreement in regard to how their assets should be split. However, this can often prove to be difficult. It may be worthwhile for divorcing couples to seek mediation in order to help them come to an agreement. However, for many, they will decide to appeal to a judge.
What factors does the judge consider in order to decide how to divide property?
The judge will consider the general circumstances of each spouse at the time of divorce. These considerations will include the health and age of each divorcing spouse, as well as their individual earning potential and dependent children. The decision that the judge makes can also be impacted by any history of law violations, especially anything relating to asset division, for example, hiding assets.
If you are going through a divorce in the state of Hawaii, it is important that you take action in understanding how the asset division process will work for you.