Marital Property is the property and assets accrued during the course of a marriage. In addition, property brought into the marriage and shared by both spouses during the course of the marriage may sometimes be considered in the equitable division, or distribution of marital property during the divorce process.
When a marriage fails and goes into the divorce process all relevant property and assets must be divided prior to a divorce being made final. If both parties cannot agree on the terms of dividing the marital property the court will hear arguments and render it's decisions regarding the marital property in question, as well as any other divorce issues that cannot be amicably resolved prior to the appropriate court hearing.
In general marital property may be deemed to be:
When considering how the marital property should be divided the court will often take into account:
Since marital property is often one of the most highly contested areas of a divorce, it is important to go into marital property negotiations with a calm and steady frame of mind. Your marital property attorney will provide you a voice of reason that is designed to successfully resolve your marital property issues prior to the scheduled court hearing regarding marital property.
As mentioned above, a failure to amicably resolve marital property issues prior to the appropriate hearing could result in the court making marital property decisions for you. For this reason it is important for your attorney to calmly negotiate for your demands while also tying to limit the frustration of the other party which could lead to delays, a harder stand on certain issues, cost you more money to accomplish your marital property goals, or even have marital property choices taken out of your hands by the court.
The Law Office of
JOSHUA E. SCHOEN, P.A.