Rockville, MD Property Division Attorney

Experienced Divorce Attorney Helping Clients Divide Marital Property in Rockville, MD

During a marriage, almost anything either party acquires is considered marital property. When a marriage ends, each spouse is entitled to his or her fair share of the marital assets. The difficulty is in determining what each spouse's fair share is. In some cases, it can even be difficult to determine what is or is not marital property. Deciding who should keep what can take time, whether you choose contested or uncontested divorce. If you are in a high-asset marriage, dividing your property might be particularly complicated.

Diamant Gerstein, LLC will aggressively represent your interests when it comes time to divide your marital property during your divorce. If you are using mediation or negotiation, we will do all we can to keep discussions productive while advocating for your rights. If you are going through divorce litigation, we will fight for you to receive everything you deserve from your marital estate.

What is Not Marital Property?

Nearly everything acquired during the marriage by either spouse is marital property, regardless of whose income was used to purchase or build the value of an asset. Marital property does not include:

• Inheritances - Property left to one spouse by trust or will is that spouse's sole property.
• Gifts - Gifts made specifically to one spouse are not marital property.
• Property owned before marriage - Anything either spouse already owned when he or she got married is considered separate property.
• Property set aside by agreement - Spouses may use a prenuptial agreement to clarify which assets are nonmarital.
• Personal injury settlements - The injured spouse keeps his or her personal injury proceeds.

These rules are deceptively simple. Spouses who own individual property have a tendency to mix their personal assets with their marital assets, causing complex financial situations.

Property Division in High-Asset Divorce

High-net-worth spouses often own complex assets that are difficult to divide. Assets that generate profit, like rental properties, stocks, and corporations, might be challenging to split. Some assets, like art collections, may be impossible to divide without devaluing. There may also be concern that one spouse is hiding assets from the other. If you are in a high-asset marriage, you need an attorney with particular experience in complex financial situations during divorce.

How do Maryland Courts Divide Marital Assets?

If the court is asked to divide your marital property, it will consider factors like:

• Each spouse's contributions - This includes both financial and nonmonetary contributions, like taking care of the children.
• Fault in the divorce - The court can consider what caused the breakdown of the marital relationship. If one party is substantially at fault - for example, if he or she was unfaithful or abusive, that spouse might have a disadvantage.
• How long the marriage lasted - In a shorter marriage, the court might be more inclined to divide assets based on what each party brought into the marriage, so that each party is roughly in the same position he or she would have been in if the marriage had not happened. In a longer marriage, the court is more likely to lean towards an even split regardless of who the breadwinner was.
• Each spouse's economic circumstances - In the interest of fairness, the court will consider each party's individual financial position. Things like your personal earning capacity and any separate assets you own will be relevant.
• Each spouse's age and health - Younger and healthier spouses are more likely to be able to successfully start or restart a career, while older or disabled spouses may not be expected to earn much more during their lifetimes.

Contact a Rockville, MD Marital Property Division Lawyer

Diamant Gerstein, LLC will strive to ensure that you are left in a good financial position after divorce. Our experienced Rockville, MD divorce attorneys will do all we can to ensure that you will receive everything you are entitled to. Contact us at 301-560-2685 for a confidential consultation.