Are incomes of physically separated wife & husband considered joint property? Legal separation is in process, but not final?
1 Answer from Attorneys
Income is not considered "property" for the purpose of dividing marital assets, but a significant income disparity between spouses could be a factor in whether there is an alimony requirement. It is also a factor in determining respective responsibilities for payment of child support. Also, retirement accounts that accrued during the marriage are treated as marital property and therefore subject to equitable distribution pursuant to a divorce.