Des Moines Property Division Lawyers

Guiding You Through Property Division in Iowa Divorce Cases

The division of marital property in a divorce can be a complicated issue. If you disagree with your spouse concerning how marital assets and debts should be divided, involving a competent divorce attorney is in your best interests.

At Hope Law Firm, we have handled thousands of Iowa divorce cases over the years. We are highly adept at helping you through the process, no matter how complex and challenging it may appear. Our Des Moines property division attorneys have the skills, knowledge, and resources to protect your best interests through investigation, negotiation, or litigation.

Call Hope Law Firm today at (515) 305-2772 or contact us online to schedule a meeting with our property division attorney in Des Moines!

What is Property Division?

Property division refers to legally dividing assets and liabilities between spouses as part of a divorce. This includes property or financial assets obtained during the marriage, such as homes, cars, bank accounts, and investments, as well as debts like mortgages or credit card balances. The purpose of property division is to ensure that both parties receive a fair share of the marital property, following legal.

How Is Marital Property Divided in Iowa?

Unlike some states that have enacted a 50-50 split, Iowa divides marital property through “equitable distribution.” This means that the court will divide the assets and debts based on what each party has contributed to the marriage and what the court considers fair. Since Iowa is a no-fault state, property division is not subject to considerations of marital misconduct unless that misconduct affects a spouse’s earning ability.

The court will consider many factors when it comes to deciding property division.

These factors may include:

• The needs of the spouses
• The duration of the marriage
• Each spouse’s earning potential
• Their ages and health conditions
• Their current financial situations
• Whether one spouse contributed to the other’s career education or training
• Each spouse’s contributions to the marriage, including caring for children and the home

Marital property does not include “separate” property, which is the sole property of a spouse received as a gift or inheritance. All other assets, such as bank accounts, pensions, real estate, and other investments, are subject to property division. Marital property also includes debts, which the court will apportion to each party based on his or her financial situation.

Property Division Process in Iowa

The property division process in Iowa involves several vital steps to ensure a fair and equitable distribution of marital assets and debts. If spouses cannot agree, the court will decide how assets should be divided.

• Identify Marital Assets and Debts: Both spouses must fully disclose all marital property and liabilities, which include assets like homes, cars, investments, and bank accounts, as well as debts like mortgages or loans. Property acquired before the marriage or gifts and inheritances are typically considered separate and excluded.
• Valuation of Property: Assets must be accurately valued to ensure fair distribution. This may involve appraisals for real estate, business interests, or valuable personal property, as well as financial evaluations of investment portfolios and retirement accounts.
• Negotiation and Mediation: In many cases, spouses attempt to negotiate a settlement outside of court. Mediation may help both parties agree on dividing their property, often resulting in a quicker and less contentious resolution.
• Court Intervention (if necessary): If negotiations fail, the case will go to court, where a judge will divide the property based on equitable distribution principles. The court will consider factors such as the length of the marriage, each spouse’s financial contributions, and their future financial needs.
• Issuance of a Court Order: After hearing both sides, the judge will issue a final order outlining how the marital property and debts will be divided. This order is legally binding and must be followed by both parties.

This structured process ensures that property division in Iowa is handled fairly and transparently, protecting both spouses' interests.

Contact Our Des Moines Property Division Attorney Today

We understand the complicated, often emotional issue of property division and how it can affect your future and children. Our Des Moines divorce lawyers will work aggressively to protect your interests throughout every stage of the divorce process. When it comes to resolving your divorce issues, your choice of a lawyer can make a difference in the outcome of your case. We invite you to learn more about our highly-rated firm and how we can help you.

Contact Hope Law Firm today to meet with our property division lawyer in Des Moines!