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Going over examples of marital property

On Behalf of | Oct 26, 2018 | Firm News, Property Division |

If you and your marital partner are splitting up, there may be various aspects of your divorce that bother you or cause you to worry. For example, if you are a parent you may be terrified of a dispute over child custody and how things will unfold. The financial side of divorce can be very tricky as well and property division is one area that can be especially challenging and complex for some couples. In this post, we will take a look at some of the different examples of marital property, which is subject to division.

Generally speaking, any property that a spouse acquires while they are married is viewed as marital property. This may include gifts that a spouse received while they were married, financial accounts, boats, automobiles and real estate. Some people do not realize that other types of property, such as artwork, coin collections and home furnishings may also be subject to division. There are many factors that the court will consider when trying to figure out how to divide your property and you may receive more or less property than you originally expected.

It is important to note that property division laws vary from state to state, and every couple is in a unique position. As a result, you should approach your divorce and the distribution of property from an individualized standpoint. Whether you are unsure whether some of your assets are considered marital property or have any other question related to your divorce, do not hesitate to seek answers.