Division of Assets Lawyer in Annapolis
Understanding the Distinction Between Equitable & Equal
Maryland is an equitable distribution state. During divorce proceedings, a couple's property is divided equitably instead of equally. While some states favor an even split, Maryland divides the property based on fairness. Each spouse will leave the marriage with the separate property that the state determined they deserve. Because there is ambiguity and room for interpretation in this process, it is invaluable to have an Annapolis divorce attorney assist and support your rights.
We want to secure you what you are due. Schedule a low-cost case evaluation at (410) 656-6227.
Asset Division in Court
Marital property refers to all the assets acquired during your marriage. This can include homes or businesses owned together, joint accounts, and other commingled property.
When determining how to equitably divide marital property, the court may consider:
- The duration of the marriage
- If either spouse is at fault for the demise of the marriage
- The age, health, and general condition of both spouses
- Both spouse’s economic circumstances
- What both parties contributed to their household
- How and when the assets in question were acquired
- Anything else the court considers relevant or necessary
Reaching a Settlement Without the Court
Some couples create agreements that divide the assets as they see fit, without involving the discretion of the court. If both parties are satisfied with the settlement they create, the court typically signs off on the document. However, even with an amicable decision of this nature, an Annapolis divorce lawyer can assist in a number of ways.
If you secure sound legal representation, your attorney can help ensure:
- Your spouse is not hiding assets from you
- Emotions are not preventing fairness or rationality
- The valuation of the assets involved is determined fairly and accurately
- Shared funds such as pensions and retirement accounts are distributed fairly
The Law Office of Patrick Crawford is also able to assist in the practical execution of the agreed upon settlement through overseeing the distribution of the assets. Whether you are buying your spouse out for their half of the assets, splitting cash assets evenly, or selling assets and splitting the proceeds, we have the experience necessary to make the process smooth and fair for all.
Don't Hesitate to Reach Out
Regardless of if you are embroiled in bitter litigation or are involved in an amicable settlement, dividing assets in an equitable distribution state calls for trusted legal representation. With over 15 years of experience and a fierce commitment to providing our clients with personalized solutions, The Law Office of Patrick Crawford is here to offer you the support you need.
Call (410) 656-6227 and speak to Patrick Crawford today.