Marital property is generally property that is acquired during marriage, is jointly owned by the spouses, and is subject to division upon divorce—whether the spouses reside in (1) an equitable distribution or common law property state or (2) in a community property state.
Marital property is distinct from separate property, which is generally property that a spouse acquired before marriage—or acquired by gift or inheritance during marriage—and is not subject to division upon divorce.
Community property states generally include Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. In these states, divorce courts generally start with the presumption that the marital property is owned equally by the spouses and will be divided equally upon divorce.
In other states—so-called equitable distribution or common law property states—the divorce court attempts to divide the spouses’ assets equitably (fairly) and may consider a spouse’s separate property in deciding to make an unequal division of the spouses’ marital property.
In practice, the difference between the division of assets in community property states and in equitable distribution states is sometimes not as great as it may seem, as the court in a community property state may have the discretion to divide the spouses’ community property on a 60-40, 70-30, or other unequal basis.
In Idaho, which is a community property state, marital property is typically considered to be any property acquired by either spouse during the course of the marriage, with the exception of gifts or inheritances received by one spouse. Upon divorce, there is a presumption that all community property will be divided equally between the spouses. However, the court may have discretion to divide the property unequally if circumstances warrant an unequal distribution. Separate property, which includes assets acquired before the marriage or received as gifts or inheritances during the marriage, is generally not subject to division in a divorce. It's important for individuals going through a divorce in Idaho to understand these distinctions and how they may impact the division of property. An attorney can provide specific guidance based on the details of the case and the current state statutes and case law.