Marital Property Distribution in Baltimore County, MD

Specializing in Family Law and Marital Property Distribution

Navigating a divorce is rarely easy, even if you’ve done everything right with a prenuptial agreement. When it comes time for marital property distribution, be sure to have an experienced attorney on your contact list. The team at the Law Office of Kent L. Greenberg specializes in a range of family law matters, and we’ll make sure you understand the ups and downs of distributing shared property at the end of a marriage. Our attorneys based in Baltimore County, MD are proud to have helped so many people successfully resolve divorce issues.

What Is Considered Marital Property?

Marital property is any physical or monetary assets acquired during a marriage. However, this is a vague definition that allows for lots of gray areas. Some property acquired during a marriage may be deemed non-marital under certain circumstances. This means that any non-marital property is not subject to equal distribution. In general, marital property does not include anything acquired before marriage or assets isolated from joint accounts. Examples include:

• Real estate purchased while single
• Inheritances
• Gifts
• Funds kept out of joint bank accounts

What Is Equitable Distribution of Marital Property?

At the end of a marriage, the equal distribution of marital property is necessary. During this process, you, your former partner, and your attorney will tally up all shared assets. From there, those assets will be divided among the two parties. Many states allow for a 50/50 split, but others do not assume that each party is entitled to half the assets. An experienced attorney will walk you through the details of determining marital property and dividing it equally.

What This Means for Maryland Residents?

Maryland is an equitable distribution state, which is to say that the law does not assume that each former spouse is entitled to half of all marital assets. Instead, the law strives for a “fair” distribution of marital assets. Lots of factors will affect what “fair” means in this case. For example, if one spouse is considered at fault for the divorce (unfaithfulness, abuse, or another clear reason to end a marriage), they may receive less property than the other. Other factors that may play a role in the division of assets include:

• Each spouse’s access to non-marital assets
• Financial contributions during a marriage
• Education levels
• Length of the marriage
• Health of each party
• Living standards
• Each spouse’s amount of income
• Type of property being divided
• How property division will affect tax liability

Get Legal Advice From the Law Office of Kent L. Greenberg

If you’re going through a divorce, be sure to get a seasoned legal team on your side. The staff at the Law Office of Kent L. Greenberg can help you and your former spouse better understand the equal division of marital property. We can advocate on your behalf if you believe certain assets should not be counted as marital property as well. With just a quick call to our friendly team, you can set up your no-obligation, free case review. Contact us today to take the first step.

Legal Support and Advocacy in Owings Mills, MD

The distribution of marital property is often one of the most complex aspects of a divorce. A family law attorney in Owings Mills, MD, provides essential support by identifying and valuing assets, distinguishing between marital and non-marital property, and advocating for your rights. We work to ensure the process is handled with care and precision. Our goal is to help protect your financial interests and help you secure a stable foundation for your future as you move forward.

How Maryland Courts Handle Marital Property

Maryland follows a principle known as equitable distribution, which means property is divided fairly, not necessarily equally. A court considers numerous factors, including each spouse’s contributions, the length of the marriage, and economic circumstances. Understanding how these factors of divorce law apply is crucial. An experienced divorce lawyer can explain the process, manage expectations, and build a compelling case to support a just and equitable distribution of marital property on your behalf.

Common Misconceptions About Marital Property

Many people believe that marital property distribution is a simple 50/50 split, but this is not the case in Maryland. Another common misconception is that all assets owned during the marriage are considered marital property. However, inheritances or gifts received by one spouse may be excluded. Clearing up these misunderstandings is vital for protecting your assets. We provide the clarity needed to address these issues correctly from the start.

How We Assist with Your Property Division

Our highly experienced firm provides comprehensive assistance with your marital property distribution. We start by conducting a thorough inventory and valuation of all assets, from real estate and investments to retirement accounts. We then develop a clear strategy for negotiating a fair settlement. If an agreement cannot be reached, we are prepared to represent your interests in court, through our knowledge of family law, to pursue the best possible outcome for you.