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 Nebraska, the regulation of marital property follows the principles of equitable distribution, as Nebraska is not a community property state. Upon divorce, the courts in Nebraska aim to divide marital property in a manner that is fair and equitable, but not necessarily equal. Marital property includes assets acquired during the marriage and is subject to division, while separate property—acquired before the marriage or through gift or inheritance during the marriage—is typically not divided. The court considers various factors to determine what is equitable, which may include the length of the marriage, the contribution of each spouse to the marital property, and the economic circumstances of each spouse. Although Nebraska is not a community property state, the actual division of assets may not always be drastically different from those states, as equitable distribution also allows for flexibility and the court's discretion in dividing assets.