Divorce is hard. There's no way to make this emotionally challenging time a walk in the park, but there is one way to make it simpler: hire a good attorney. A divorce attorney can act as your go-between during the proceedings, which minimizes the contact you need to have with your ex-spouse. Overall, this can lead to fewer arguments and a settlement that is more fair for all parties involved. If you're on the brink of divorce, we think reading a little more about divorce attorneys on this blog will be helpful. That way, you are prepared for what is to come.
Going through a divorce can be one of the most challenging and emotionally draining experiences anyone ca
Divorce and custody battles are often one of the most stressful and emotional experiences a family can go
Divorce can be a difficult and emotionally draining process. Couples who are going through a divorce ofte
Child custody cases are emotionally charged as they involve questions about the safety, well-being, and u
Divorce is a challenging and emotional process, often accompanied by disagreements and disputes over vari
When the marriage is over, almost everything the couple owns is considered marital property. Along with child custody, alimony, and marital debt, marital assets are a major issue with divorce. To find out who gets what in a divorce, read on.
Understanding Marital Assets
When it comes to divorce, everything the couple owns is divided into either marital assets or separate property. Here are some very common forms of assets, both marital and separate:
Understanding Separate and Marital Property
When property falls into a separate bucket, it belongs only to one person and is not part of the divorce at all. Separate property are things owned before the marriage, items inherited, and gifts. Gifts given to each other, however, are not considered separate property. Everything else is marital property. Just because it is considered marital property doesn't mean it has to be equally divided, however. The totality of the divorce settlement agreement is taken into account and things can also depend on whether the divorcing couple lives in a community property or equitable distribution state.
When Lines Are Crossed
The division between separate and marital property can easily be blurred. Particularly when a couple has been together for a long time, the property can get mixed up and intertwined so much that it takes an accounting whiz to figure things out. In financial terms, the below property situations might be known as commingling. Take these examples:
The best way to handle this issue is to make an inventory of the property along with the circumstances it was acquired. Your divorce lawyer can then help you divide the separate property from the marital property. When disputes occur, your lawyer can help show why you should be entitled to the property. Talk to family law services today to learn more.
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