What Is An Equitable Distribution Of Marital Assets?
Property division is often a matter of extremely high importance for people getting divorced. Maryland uses an equitable distribution model, meaning that the court will not divide the property accumulated during the marriage precisely in half but divide property based on what is fair.
Since “equitable division” will not be an even split, it is vital to secure skilled representation to ensure your fair share is protected.
Over 15 Years Of Experience Handling Family Law Matters And More
People with property division disputes have turned to attorney Kathleen M. Kirchner, Esq., for more than 15 years. She offers the experience to advocate for a fair share of the marital estate for couples across Annapolis, Anne Arundel and surrounding counties.
More About The Property Division Process In Maryland
When calculating property division, the first step is discovering the exact size of the marital estate. Not everything possessed by both parties is a marital asset, as many people bring a great deal of separate property into the marriage. Separate property includes such items as:
- Any property that predates the marriage
- Gifts to only one party in the marriage
- Inheritances to only one party in the marriage
This separate property is then subtracted from the total marital estate, and the rest is what the court divides.
Factors Court Use
The equitable distribution method looks to several factors to determine the exact portion awarded to each spouse. These factors include:
- Each spouse’s contributions
- The financial resources of each spouse
- The length of the marriage
- Each spouse’s general health
- Whether one spouse was awarded alimony or not
Many other factors can change how the court views the property division conversation.
Courts divide marital debt similar to how they divide marital property. They look at the factors utilized with “equitable distribution” and make a decision that is fair.
Advocacy Makes A Difference
While it may sound like the court’s decision is a foregone conclusion, this is far from the case. Attorney Kirchner advocates for you at every step of the property division process. While the court will do its best to be fair, having a skilled attorney acting as your voice can make a world of difference.
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