Dividing Marital Property
What Qualifies As Separate Property
Common examples of separate property include the following:
- Property owned prior to marriage
- Income received from a personal injury
- Gifts from someone other than a spouse
Common Examples Of Marital Property
These can encompass nearly anything, including the following:
- Retirement plans
- Business assets
- Real estate
- Stocks and bonds
- Cars and other property of value
This property division cannot take place until the couple files for divorce or pursues a valid separation agreement. So if a member of the couple is contesting the divorce or separation, marital assets will not be distributed.
I Work With Experts
Determining the worth of assets is an important part of the divorce and distribution process. While I often perform this duty as your attorney and representative, I sometimes work with experts who range from CPAs to tax accountants to appraisers of real estate or other assets, particularly if the other party is not perceived to be acting in an honest manner.