Married couples acquire and inherit many different types of items throughout their life together. Each also brings individual property with them into the marriage. Determining where that property goes after spouses divorce can be hard to decide. In fact, it can be contentious and challenging without legal guidance and support. Our property division lawyers at the Aberdeen Law Firm can help.
When we represent you, we listen to you with compassion and kindness with the goal of understanding how each piece of property in question came into the marriage. We will explain the laws of your state and how they affect the division of property. Our family law firm offers help in your darkest hour with solution-oriented legal care that fights for the best possible outcome for you.
Property Division in Community Property States
There are generally two types of property—marital and separate. When you and your spouse divorce, your property must be divided as well. Property division in community property states is generally a 50-50 division of property, assets, and debt. Some community property states, though, require equitable distribution of these items, making property division complex.
Even separate property can be deemed marital property if it is co-mingled with marital property during the marriage. The law around how property is divided can be hard to understand and comply with on your own. If our property division lawyers represent you, we work hard to protect you and to divide property and assets as fairly as possible. We can also help both spouses enjoy some peace of mind.
Property Division in Non-Community Property States
The majority of US states divide property based on equitable distribution when couples divorce. Determining what is equitable is complex. The judge in your case will make this distinction for you if you and your spouse and your respective attorneys cannot reach an agreement on your own.
A prenuptial agreement is a contract created between two potential spouses prior to the marriage. If one is in place, its contingencies are likely to be upheld unless it violates specific laws. How spouses file and pay taxes or receive tax refunds can also determine what is considered marital property.
Our property division team will investigate all assets, fight for fair designations between marital and separate assets, and explain your rights and responsibilities, as well as those of your spouse.
Understand What Is Considered Marital Property
Each spouse in a divorce action can claim some property as separate. In general, separate property can include property you owned prior to the marriage, gift, inheritances, specific portions of personal injury compensation, and any property you mutually agree is separate. These assets are usually more easily divided.
Dividing marital assets to both parties’ satisfaction can be more challenging. The following assets are generally considered marital property:
- Anything acquired during the marriage
- The primary marital residence
- Marital vacation homes
- Other real and business property
- Mutual investment accounts
- Bank accounts, stocks, and bonds
- Pensions, profit-sharing plans,
- Stock options and insurance policies
- Household items and vehicles
- Recreational aircraft and watercraft
Property that is titled separately is not automatically deemed separate versus marital. A judge may still categorize it as marital and subject it to rules and laws of equitable division.
Understand What Is Considered Fair and Equitable Distribution
Equitable distribution could mean each of you retains certain items, or it can mean the judge orders the sale of certain property and an equitable division of the resulting proceeds. The equitable distribution process will also take the following factors into consideration:
- The length of your marriage
- Each spouse’s age and health
- Each spouse’s contributions
- Child custody determinations
- Each spouse’s education
- Each spouse’s earning potential
- Each spouse’s estate value
- Each spouse’s financial habits
How each spouse contributed to the other’s educational and professional accomplishments will also come into consideration. In some cases, the fault may be considered a factor in property division, but this is uncommon.
Why You Should Hire Our Property Division Lawyers at the Aberdeen Law Firm
A divorce action can be smoother and easier for both spouses if they can mutually agree on how to divide assets. Our property division attorney can help you understand and consider all available options. We can also explain potential complications and help cooler heads prevail.
Our family law team will:
- Create a detailed list of property and assets
- Protect you from hidden or diverted assets
- Provide an objective point of view
- Protect your best interests and those of your child(ren)
- Keep your divorce and asset distribution on track
When you become a client, you get the support of our entire team behind you. We are not mediators but will represent you if your divorce case goes through the mediation process. Our team is dedicated to protecting your rights as your family navigates a difficult transition.
Our Law Firm Also Supports Unmarried Couples
Property division can be complicated for unmarried couples since it is not subject to the same legal tenets outlined in many divorce actions. When an unmarried couple ends their relationship, dividing jointly owned property can be even more of a legal challenge. You do not have to give up cherished property or relinquish property you brought to the relationship without a fight.
We can help with contested divisions of your residence, its equity, or any jointly owned financial accounts. You deserve to be treated with fairness, so we work hard to negotiate an agreement that allows both parties to get the fresh start they need.
We offer free consultations and flexible payment plans that let you get the legal service and support you need when you need it most.
Get Help and Support from Our Family Law Team
Filing for divorce and deciding how to divide property and assets can be legally and emotionally difficult. When our property division lawyers represent you, we work hard to alleviate stress and reach a fair and just conclusion for you.
Let us help you resolve property division issues. Get started by contacting one of our family law team members at the Aberdeen Law Firm today.