Assets

The Court will look at all your assets that were accumulated during the marriage. This is referred to as the "marital estate." Assets that were owned by one party prior to the marriage are considered pre-marital and will not be included in the marital estate. Also, assets or monies that were inherited by one party or received as the result of a gift from one's family during the marriage will usually not be included in the marital estate. The key here is whether or not these assets are traceable and whether or not they have been commingled with joint funds. The Court will look at the net market value of each asset in the martial estate and then divide same.

For personal property, the market value will be how much you could sell it for today or garage sale value.

All of the net values of the assets will be added together and then divided. Property will be divided anywhere from 1/3/-2/3 to 1/2-1/2 for each party. The Courts are trying to do an equal division more and more often. It does not matter whose name is on the title of the asset, whether it is a house, car, or a savings account, if it was accumulated during the marriage with marital funds, it is part of the marital estate and subject to division.

Within the past few years, the Nebraska law has been changed to provide that pension benefits accumulated during the marriage are part of the marital estate and subject to division. Valuation of a pension can be very difficult. Awards of pension benefits are almost always covered by a Qualified Domestic Relations Order.