When a couple files for divorce, where they get divorced can have a significant impact on how the marital estate is divided. The reason for this is that different states have different rules concerning property division and these rules can have a sizeable effect on who gets what in a divorce. Minnesota couples facing the unfortunate task of managing a divorce asset split might find the following post on property division and divorce informative.
In the United States there are effectively two competing sets of rules concerning the division of assets in a divorce under state laws: equitable distribution and community property. In community property states, which are in the minority of states, marital assets are essentially divided down the middle. While judges can consider other factors when assigning alimony or child support, property division is fairly straightforward.
Today, most states, like Minnesota, are equitable distribution states. In equitable distribution states assets are divided "fairly" rather than simply "equally." While an equal division of assets is certainly possible, the court considers a number of additional factors when dividing assets unlike community property states. One major concern in equitable states is the ability of each spouse to support him or herself after divorce.
Both community property rules and equitable distribution rules have positives and negatives. Fortunately, couples do not have to follow either. If a party feels the states property laws are unfair they can always attempt to negotiate a settlement. This often allows both parties more flexibility over what happens to their assets. While the majority of divorces end in settlements, when roadblocks arise the state rules are always there to help out.
Source: Huffington Post, "Why Where You Divorce Matters: Equitable Distribution vs. Community Property," David Centeno, Aug. 28, 2013
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