One of the biggest questions that is asked of our expert divorce attorneys is, “how do i get my fair share of marital property in divorce?” Property division is one of the most unpleasant aspects of getting divorced. Childless couples find themselves fighting over assets and heirlooms rather than children. Couples with children argue over who will keep the home in which to raise them.
When dealing with division of property, it is important to get what you are entitled to based on existing laws in your area. Only an expert local divorce attorney can let you know how to get your portion of the marital property in your divorce case. Speaking with lawyer that provides a free consultation is your first step to getting what you deserve.
We Help Get Your Fair Share of Marital Property in Divorce!
In general, property owned by one spouse prior to a marriage may remain property of that individual. This is good news for people entering a union with a substantial amount of assets, though having a lawyer for marital property draft a prenuptial agreement prior to exchanging vows is a good idea. Property acquired after the wedding is another story because it is usually subject to division during divorce. Most people don’t understand their rights to obtaining their fair share of the marital property that is due them during the divorce process.
Most couples cannot agree on division of property when they divorce so the issue goes to court. In a handful of states, all property accumulated during a marriage is designated as community property. This is usually evenly divided between the couple based on the total value of the marital estate. Other states follow a rule of equitable distribution, allowing a judge to determine a fair distribution method rather than automatically splitting property in half.
Division of Marital Property in Divorce
Property is not the only thing divided during divorce. If the couple has debts, these will also be divided. This is where having an attorney is invaluable because it can prevent one spouse from being saddled with debts that the other accrued. Marital property lawyers help their clients prove lack of knowledge regarding such debts, minimizing the financial pain of divorce. The process of dividing marital property in divorce involves a number of factors, including finding the contribution of each spouse, who held the property or money that purchased the property prior to the divorce, and whether the spouse that didn’t own the property prior to the marriage made a significant contribution to the value of the property. When some of these factors are involved, property that may have been non-marital property can be converted into marital property. When this happens, a spouse may be entitled to a fair share of this marital property during the process.
Can Inheritance Be Treated as Marital Property In Divorce?
A spouse may think he or she is in the clear with inheritance but this can be a very sticky issue. Though inheritance does not typically qualify for equal distribution upon divorce, state laws determine how it is handled once shared with a spouse. Even inheritance acquired prior to a marriage may be at risk of equal distribution based on the laws of some states. When a spouse receives inheritance, his or her first call should be to a divorce lawyer to discuss their rights to the acquired marital property to get protection in the event of divorce. No one wants to think about the prospect of getting divorced, but hedging your bets and keeping yourself financially secure is something every individual needs to do to protect themselves from being taken advantage of.
Divorce and property or debt division is a complicated area of the law. Without guidance from a professional, a spouse can end up being slighted, particularly when property was purchased with commingled funds. A family law attorney can help a divorcing individual receive the amount of property they are entitled to under the law while limiting the marital debt burden. Learning how to get your fair share of marital property in divorce is a serious matter and should be undertaken after speaking with an expert divorce lawyer who specializes in division of marital property in the divorce process. Speaking to a professional today with a free consultation!