In a family property settlement, property and assets are usually categorized as either marital property or non-marital property. When it comes to family property division during a divorce, both parties will need to divvy up the assets acquired before, during, and to some level, after the marriage. This involves figuring out what property is categorized as either “marital” or “non-marital” and consists of all assets owned by the parties, such as real estate, cars, retirement plans, and other valuables.
Do you need legal representation in your divorce due to family property settlement disputes? Even if you and your former spouse agree on the property distribution, it is important to have a divorce lawyer finalize all necessary paperwork and ensure that you are getting exactly what you agreed to. Our family law attorneys are on your side and will work for you throughout your divorce—contact us today!
Did you know?
Generally speaking, the term “marital property” is defined as property acquired by both spouses during the marriage.
With some exceptions, all real estate acquired by either partner during the marriage is classified as marital property, despite whether the title is held by one partner or by both parties jointly.