Anchorage Property Division Lawyer
The trial court has broad discretion in fashioning a property division in a divorce action. Equitable division of marital assets by the superior court involves a three-step procedure. First, the trial court must decide what property is available for distribution. Second, the trial court must value this property. Third, the trial court must decide how to allocate the property in the most equitable manner. The appellate court reviews the trial court's determination of what property is available for distribution under an abuse of discretion standard. The valuation of available property is a factual determination that will be reversed only if clearly erroneous. The equitable allocation of property is reviewable under an abuse of discretion standard and will not be reversed by the Alaska Supreme Court unless it is clearly unjust.
In a judgment in an action for divorce or action declaring a marriage void or at any time after judgment, the court may provide for the division between the parties of their property, including retirement benefits, whether joint or separate, acquired only during marriage, in a just manner and without regard to which of the parties is in fault; however, the court, in making the division, may invade the property, including retirement benefits, of either spouse acquired before marriage when the balancing of the equities between the parties requires it; and to accomplish this end the judgment may require that one or both of the parties assign, deliver, or convey any of their real or personal property, including retirement benefits, to the other party; the division of property must fairly allocate the economic effect of divorce by being based on consideration of the following factors:
(A) the length of the marriage and station in life of the parties during the marriage;
(B) the age and health of the parties;
(C) the earning capacity of the parties, including their educational backgrounds, training, employment skills, work experiences, length of absence from the job market, and custodial responsibilities for children during the marriage
(D) the financial condition of the parties, including the availability and cost of health insurance;
(E) the conduct of the parties, including whether there has been unreasonable depletion of marital assets;
(F) the desirability of awarding the family home, or the right to live in it for a reasonable period of time, to the party who has primary physical custody of children;
(G) the circumstances and necessities of each party;
(H) the time and manner of acquisition of the property in question; and
(I) the income-producing capacity of the property and the value of the property at the time of division.
When dividing a marital estate, the trial court generally should begin with the presumption that an equal division of marital property is most equitable. The Alaska Supreme Court has also noted that this presumption can be overcome by a consideration of the Merrill factors as codified and expanded in AS 25.24.160(a)(4).
Contact Attorney Kenneth M. Wasche for a Free Initial Consultation
Consultations can be scheduled on-site at attorney Kenneth M. Wasche's Anchorage office or off-site as necessary. As a licensed pilot and member of the Alaska Airman's Association Mr. Wasche can visit many of Alaska's road inaccessible locations by air.
To schedule a free initial consultation with an Alaska family law lawyer, call 907-980-1223 or send an e-mail.
