The Property Settlement Act
- The laws' default position for property settlement is equitable distribution, an idea that the assets gained during a marriage should be split equally between the spouses. Assets prior to the marriage that were kept separate are excluded from the distribution.
- When determining an exception to equitable distribution, courts will consider several factors. These include the earning power of both parties, age and physical health, the contribution to the marriage of both parties and whether one party will be receiving a large amount of assets exempt from distribution.
- Courts often have the power to set aside money from the distribution to be placed in trust to protect the interests of any minor children. These funds do not necessarily come from distributable property.