Maryland is an equitable distribution state. This means that property division in divorce may not always be equal, but it will be fair as determined by the court. Living in a state where everything will not be divided 50/50 may lead to complicated issues that can delay a settlement if contention arises between spouses.
Typically, all property acquired during marriage is considered marital property, although there are rare exceptions to the rule. For instance, marital property does not generally include things like valuation of a professional license or degree. Also, any property granted to a particular spouse as a gift or defined as separately owned in a valid prenuptial contract may also be excluded from that which is subject to division.
When disputes arise between divorcing spouses, the court will enact its authoritative voice to determine what constitutes marital property, as well as how much said property is worth. Various factors are considered when deciding each spouse’s share. Beyond monetary investment, non-monetary contribution may be relevant to the court’s decision, such as care and upbringing of children, housekeeping and other domestic services.
Maryland law subjects all marital property to equitable distribution. The duration of marriage, the economic status of each spouse, and the ages and physical (as well as mental) health of both parties are other common factors used as guidelines to resolve property division issues in court. Especially in situations where there has been a major communication breakdown between parties, it is often beneficial to seek experienced representation. For those who need assistance regarding such matters, the law office of Margaret H. Oliver, LLC, is available to protect one’s rights and ensure that a fair and agreeable outcome is obtained.