Division of Marital Property
Divorce involves more than emotions.
When you’re faced with the prospect of divorce, there’s a lot at stake. Aside from the emotional turmoil and upheaval of your family’s life, you also have to deal with issues that can affect your financial security for years to come. Andalman & Flynn’s practiced attorneys will conduct a thorough evaluation of your financial situation and ensure that your rights regarding property division are fully protected.
Division isn’t always a simple calculation.
Assets acquired during a marriage are considered marital property, but property acquired before marriage or received from a third party as a gift or inheritance are excluded. During a divorce, this marital property is subject to just and equitable division by the court. However, interpretations of what is just and equitable, as well as what constitutes marital vs. separate property, can vary widely. Equitable distribution also doesn’t necessarily mean the marital property will be divided equally between the parties. Property division is based on several factors, including the economic circumstances of each spouse. Sometimes, the disadvantaged spouse receives more of the property. Marital property generally includes holdings and finances acquired during the marriage such as:
- Personal property (such as vehicles, jewelry and furniture)
- Real estate
- Bank accounts
- Pensions and retirement accounts
- Stock options
At Andalman & Flynn, we have guided hundreds of people through the property division process. Whether you require a simple division of community assets or valuation and separation of complex financial holdings, we can help. Please contact us today to schedule a consultation.
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