Dallas County Property Division Lawyers

During a divorce, courts in Iowa will have to determine which spouse is entitled to certain property accumulated over the course of their marriage. As you may imagine, property division is one of the more hotly-contested aspects of divorce. For this reason, having a team of skilled Iowa property division lawyers in your corner who can effectively represent you through the duration of your case. Contact Iowa Defenders, PLLC today.

Property Division Lawyers: Here to Protect Your Hard-Earned Assets

Often, both spouses understand they can’t keep everything in a divorce, but agreeing on “who gets to keep what” is more difficult than they initially thought. Our knowledgeable Dallas County family lawyers have decades of experience representing clients facing complex asset division issues, and we are prepared to put that experience to work for you.

Marital Property Vs. Separate Property in Iowa

Iowa is an equitable distribution state. This means that most or all marital property will be divided fairly and justly in the eyes of the court. Importantly, this does not necessarily mean a 50/50 split of assets.

Marital property is defined as all property acquired during the course of the marriage. This includes the marital home, assets held in bank accounts, and more. Marital property is subject to equitable distribution in Iowa, while separate property is not. Separate property includes all property acquired prior to or outside of the marriage, such as a gift given by a friend.

Factors Considered When Dividing Property in an Iowa Divorce

Courts in Iowa will consider a wide range of factors when determining which spouse is entitled to certain assets in a divorce. Some of those factors are as follows:

• Duration of the Marriage: The length of the marriage can influence the division of assets, with longer marriages often seeing a more equitable distribution of marital property.
• Contribution to the Marriage: This includes both financial contributions, such as income, and non-financial contributions, such as domestic duties and raising children.
• Economic Circumstances of Each Spouse: The court considers each spouse’s current and future earning potential and economic circumstances.
• Child Custody Arrangements: The allocation of parental responsibilities can impact who retains the family home or other assets that support child welfare.
• Age and Health of Each Spouse: Health conditions and age can affect asset division, especially when considering long-term financial needs.
• Pre-Marital Property: The distinction between marital and pre-marital assets is crucial, as pre-marital assets typically are not subject to division unless commingled with marital property.
• Debts and Liabilities: The court assesses which spouse is responsible for existing debts and liabilities, potentially adjusting the asset division to compensate.
• Tax Consequences: The tax implications of dividing certain assets can be significant and are taken into consideration to ensure a fair distribution.

Protecting Your Property Proactively

Understanding the complexities of property division in Iowa, it’s wise to consider mechanisms like prenuptial and postnuptial agreements to protect your assets. These agreements are especially valuable in defining what remains classified as separate property, safeguarding it from equitable distribution in the event of a divorce.

• Prenuptial Agreements: Entered into before marriage, these agreements can detail what happens to your assets and income in the event of a divorce, providing clarity and security.
• Postnuptial Agreements: Similar to prenuptial agreements but established after a couple is married, postnuptial agreements can help manage assets acquired during the marriage and clarify future property division.
• Legal Strategy and Representation: Engaging with experienced property division lawyers, like those at Iowa Defenders, PLLC, ensure that these agreements are crafted carefully, legally sound, and tailored to your specific circumstances.

By proactively setting clear boundaries through these agreements, you can significantly reduce conflicts and ensure that your assets are protected, according to your wishes.

Contact Our Iowa Property Division Lawyers Today

Whether you’re looking to draft a marital agreement or require aggressive representation to protect your hard-earned assets in a divorce, Iowa Defenders, PLLC stands ready to help. Contact our dedicated Dallas County property division lawyers today.