New Hampshire Divorce & Finances
Separating out joint finances during a divorce is an unpleasant and unsettling prospect. Many people have questions about the process. How will property be divided? How will the divorce affect your tax situation? Do you have estate planning issues to resolve? What is spousal support, will it be awarded, and for how long? The following headings address these and other laws specific to New Hampshire divorce and finances.
New Hampshire Property Division/Community Property/Debts:
New Hampshire is an ï¿½equitable distributionï¿½ state. Marital property will thus be distributed on terms considered to be fair. Note that ï¿½fairï¿½ does not necessarily mean equal. In the equitable distribution adjudication, the court will consider, among other factors, the contributions of each spouse to the marital estate, the total value of the properties of the parties, the economic circumstances of each party, any misconduct that may have occurred, and the amount of spousal support awarded.
New Hampshire Spousal Support:
There is no automatic obligation for either spouse to support the other in the event of a divorce. However, the court may grant spousal support (also called maintenance or alimony) based on a case-by-case determination and in consideration of many factors, including:
- The financial resources of the party seeking support;
- The time and input of resources necessary for the party seeking maintenance to find appropriate employment and sufficient education/training for that employment;
- The established subjective standard of living during the marriage;
- Marriage duration;
- Physical and emotional condition of the party seeking maintenance;
- The ability of the potentially supporting spouse to meet his/her own needs while meeting those of the other spouse; and
- Any other factors the court deems relevant.
Keep in mind that the spousal award amount and duration, once determined, are not set in stone. The court may modify or eliminate the award when circumstances justify doing so, such as one party entering into another marriage or similar arrangement, or a material change in the financial circumstances of a party.
New Hampshire Divorce/Child Support/Child Custody Lawyers:
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