Divorce laws vary by country and even by state or region within a country, so the specific rules and regulations governing the division of assets can differ significantly depending on the jurisdiction. However, I can provide you with a general overview of how assets might be divided in such a situation.
When one person in a marriage has earned all of the money, and the other person has earned nothing or significantly less, it is often referred to as a situation of disparate financial contributions. In such cases, the division of assets may involve the following steps:
Community Property vs. Equitable Distribution: Different jurisdictions follow different principles when dividing assets in divorce. Some jurisdictions follow the principle of community property, where all marital assets and debts are considered equally owned by both spouses and are divided 50-50. Other jurisdictions follow the principle of equitable distribution, where the assets are divided fairly but not necessarily equally, taking into account factors like the length of the marriage, each spouse's financial contributions, and their future needs.
Identification of Marital vs. Separate Property: Typically, only marital property is subject to division during divorce proceedings. Marital property includes assets acquired by either spouse during the marriage using marital funds. Separate property, on the other hand, includes assets owned by one spouse before the marriage, inheritances, gifts received by one spouse during the marriage, or any assets specifically defined as separate by a prenuptial or postnuptial agreement.
Contributions and Non-Monetary Contributions: While one spouse may have contributed financially, the other spouse may have contributed in other ways, such as taking care of the household and children or supporting the earning spouse's career by sacrificing their own professional opportunities. These non-monetary contributions may also be taken into account when dividing assets.
Alimony or Spousal Support: In cases where there is a significant financial disparity between the spouses, the court may order alimony or spousal support payments. This is financial support provided by one spouse to the other after the divorce to help the lower-earning spouse maintain a similar standard of living to what they had during the marriage.
Negotiation and Settlement: In many divorce cases, the division of assets can be negotiated and settled through mediation or with the assistance of attorneys, rather than being determined by a judge in court. This allows the couple more control over the outcome and can lead to a more amicable resolution.
It is crucial to consult with a divorce attorney who is familiar with the laws in your specific jurisdiction to get a better understanding of how assets would be divided in your particular case. Each divorce situation is unique, and the outcome can be influenced by many factors beyond the financial contributions of the spouses.