What are equitable distribution of property laws?

Equitable distribution of property laws in Rhode Island refer to the division of marital assets that occurs during a divorce. These laws require an equitable (fair) division of marital assets between divorcing spouses, regardless of who holds legal title to the assets. In Rhode Island, assets acquired during a marriage are assumed to be marital assets and are subject to division during divorce. This includes bank accounts, pensions, retirement accounts, investments, real estate, and other personal property such as cars, boats, artwork, and furniture. Equitable distribution of property is different from a 50/50 split of all assets because it takes into account a variety of factors such as the value of the assets, the length of the marriage, the contributions of each spouse, the tax consequences of a distribution, and the economic circumstances of each spouse. In Rhode Island, there is a presumption that a “fair” division of marital assets will result in an equal division of the marital estate. However, the court has the authority to make an unequal division of assets when necessary in order to accomplish an equitable distribution. In simplest terms, equitable distribution of property means that each spouse is entitled to a fair share of the marital assets upon divorce, taking into account the relevant factors such as the length of the marriage and the contributions of each spouse.

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