Introduction
Filing for divorce involves numerous considerations, and the division of assets stands as one of the most significant factors. However, what happens if you and your spouse find yourselves without any assets to distribute?
No-Fault Divorce in Alaska
Alaska follows a no-fault divorce system, eliminating the necessity to establish one spouse as more accountable for the marital breakdown. Instead, you can simply assert in your divorce petition that the marriage is irreparably broken.
Property Division in Alaska
Regarding property division, Alaska operates under the principles of "equitable distribution." This implies that the court distributes marital property fairly, although not necessarily equally, between the spouses.
What Qualifies as "Marital Property" in Alaska?
Marital property encompasses any assets obtained by both spouses during the marriage, irrespective of the name on the title or account. Such assets may include:
- Real estate properties
- Vehicles
- Bank accounts
- Retirement accounts
- Household goods
- Business interests
- And more.
What Happens If You Don’t Have Any Assets?
In the case where you and your spouse do not possess any assets to divide, the court will not need to make any decisions regarding property division. However, there are still other essential matters that require resolution in a divorce, such as:
- Child custody and visitation arrangements
- Child support
- Alimony issues
- And more.
Consulting with an Attorney
Even if you believe there are no assets to divide, it remains advisable to seek guidance from a proficient divorce attorney. This ensures a comprehensive understanding of your legal rights and obligations. An attorney can assist in negotiating a fair settlement with your spouse and preparing all necessary paperwork to facilitate a smooth divorce process.
Conclusion
In Alaska, you retain the right to file for divorce even in the absence of assets to divide. Nevertheless, it is crucial to address other significant issues and protect your interests by consulting with an attorney throughout the process. By doing so, you can navigate the complexities of divorce while ensuring a properly structured and understandable outcome.