The division of assets is an important consideration for couples pursuing a divorce. Laws about how property and other assets are distributed vary from state to state. Use the following guide to discover what to expect if you’re separating in the state of Nebraska.

A Nebraska Resident’s Guide to Divorce & Asset Distribution 

What is the law for property division?

Nebraska law calls for the equitable distribution of marital assets. This means the court system sets out to divide shared property and financial assets—as well as debts—as fairly as possible.

Equitable distribution doesn’t call for a 50/50 split; rather, it means the allocation is reasonable based on specific marital factors. For example, the higher-earning spouse might receive two-thirds of the marital assets, while the spouse who earns less or has no income might get one-third of the share.

Which factors are considered when assets are divided?

There are many considerations the court will assess when deciding how to allocate wealth and property. Each individual’s ability to make money and custody arrangements are often all considered. In the case of a stay-at-home parent, it could be argued that additional time and financial support will be needed as they acquire skills to enter the workforce.

Are nonfinancial marital contributions considered?

Nebraska law recognizes the efforts contributed by stay-at-home parents, such as performing household duties, taking care of children, and providing professional support to the earning spouse. This means that although these activities may not generate income, their value will still be considered as marital assets are split up.

What happens with nonmarital property?

Nonmarital property is any asset that belongs to only one spouse. This could include things like a savings account one party had prior to the marriage. However, it may also encompass property acquired during the marriage, such as an inheritance bestowed upon only one spouse. These assets are not divided during the divorce and are left for the original owner to keep.

How would a prenuptial agreement affect property division?

If you and your spouse entered into a prenuptial agreement, any terms outlined in the document take precedence over Nebraska law. If it was agreed upon in the prenuptial agreement that one spouse would get the house in the divorce, then the agreement is binding and would remain valid, regardless of who earns more or other factors that are typically considered.

If you’re seeking professional assistance to navigate your divorce, turn to Seiler & Parker P.C. LLO. This law office serves Hastings, NE, and the Tri-City area. These results-oriented attorneys have extensive experience helping their clients pursue the best possible outcomes for their cases. Find out more about their approach to family law online, or call (402) 463-3125 to schedule a consultation.