Division of property between spouses may be a difficult issue to resolve during a divorce. Iowa follows equitable distribution for property division during divorce. In Iowa, all property is divided, except inherited property or gifts. Gifts and inheritance is only divisable if refusal to divide the property is inequitable to the other party or the children of the marriage. "Equitable" does not mean equal. Courts strive for a fair division between the parties and take into consideration several factors to make that determination, which include:
1. The length of marriage
2. The property brought to the marriage by each party.
3. The contribution of each party to the marriage, giving appropriate economic value to each party's contribution in homemaking and child care;
4. The age and physical and emotional health of the parties.
5. The contribution by one party to the education, training, or increased earning capacity of the other.
6. The earning capacity of each party, including educational background, training, employment skills, work experience, responsibilities for the children, and time
and expense to enable party to become self-supporting.
7. Desirability of awarding the family home or right to live in family home for reasonable period to party having custody of the children;
8. Amount and duration of an order granting support payments to either party and whether property division should be in lieu of such payments.
9. Other economic circumstances of each party, including pension benefits.
10. Tax consequences to each party.
11. Written agreement made by the parites
12. Privison of antenuptial agreement.
13. Other factors
If you would like to schedule a initial consultation contact an Iowa family law attorney, representing clients in Elkader, Iowa at the Dillon Law P.C. Give us a call at (563) 578-1850 or complete our inquiry form.