Property Distribution Attorney in Rockville, MD

Property distribution attorneys at Fait & DiLima, LLP are experienced in helping identify marital and separate assets.

Distribution of marital assets between the spouses can be one of the most acrimonious aspects of divorce. It’s almost like making endless decisions when you move from one home to another: every item needs to be accounted for. The major questions need answering: Who gets the house? The car? Is the furniture part of the home? And then all the minor questions need answering too. The first step is identifying which properties are owned separately and which are marital/shared.

What is Non-Marital Vs Marital Property?

Maryland law defines non-marital property as any property owned before the marriage, inherited, or gifted by a third party to either party before, during or after the marriage.

Marital property refers to all the assets accumulated during the marriage. That includes bank accounts, retirement accounts, homes and their contents, businesses, motor vehicles, and even pets.

Characterization as marital or nonmarital property disregards title, except real property as tenants by the entirety, which is deemed marital. The court cannot transfer title ownership of property, except for pension, retirement, profit sharing or deferred compensation, which can be in one person’s name but be transferred in whole or in part to the other spouse.

When marital and non-marital funds are commingled, no specific sum of money used to buy or to reduce indebtedness on the property can be directly traced to any source. Therefore, all property so acquired may be considered marital property.

How the State Distributes Marital Property

Maryland is not a community property state. After identifying the marital properties, the couple will seek an “equitable property division” in court. The goal is a fair division of property, not necessarily 50/50, but based on several factors:

• Duration of the marriage
• Current financial status of each spouse, including their non-marital property
• How the assets were acquired
• Individual contributions of the spouses in the marriage, financial and non-financial
• Health and age of both parties
• Marital fault

Marital fault is a ground for divorce in Maryland that states that one side did something wrong during the marriage and that this merits the separation. This finding can have a significant effect on the distribution of properties. Citing cheating as a marital fault will not have much impact, but economic fault will. If you can prove your spouse has hidden assets or was purposely wasteful, the court will consider this economic fault important.

Protecting Your Property

Most people getting divorced are worried about their properties, especially if they acquired them independently. Understandably, you want to get your fair share. Fortunately, there are steps you can take to protect your properties.

One recourse is to have a prenuptial agreement. That is a written document detailing what happens to the couple’s properties in the event they get divorced. It can also include details on alimony and child custody. A postnuptial agreement serves the same purpose but can be done after the official marriage.

Suppose you do not have this in place, or your spouse no longer wants to discuss getting one. In that case, your best line of defense is to hire a competent and experienced property distribution attorney who can analyze your situation and outline an approach to achieve your goals.

At Fait & DiLima, LLP, we will aggressively fight for your interest. If you need help crafting your property distribution strategy, schedule a consultation with our Rockville property distribution attorney. We will do our best to get what you deserve.

Effect Of Marital Fault

Marital fault is a ground for divorce in Maryland that states one side did something wrong during the marriage, which merits the separation. That can have a significant effect on the distribution of properties.

Citing cheating as a marital fault will not have much impact. However, economic fault will. If you can prove your spouse has hidden assets or was purposely wasteful, the court can award in your favor.

The critical factor here is being able to demonstrate the fault.

Hiring A Property Distribution Attorney

The property distribution part of any divorce is complicated. Several moving parts must be pinned down to determine the proper division. Intending to be equitable, you need to prove what worth you deserve to receive from the marital properties.

That is the primary value of a property division attorney. You get guidance on crafting and executing a sound strategy with a reliable lawyer on your side.

Book a consultation with our property division attorneys at Fait & DiLima, LLP today.

Resources

Common Property Distribution Questions Answered