Maryland Divorce Attorney Handles Division of Property
Helping ensure your marital property is divided fairly
In a Maryland divorce, marital property issues are resolved in one of two ways: by a marital settlement agreement signed by the spouses, or by an order of the court. When spouses can’t agree on a settlement, the court divides them based on the principle of equitable distribution. At the Law Offices of Ellen L. Lee, we understand how the courts categorize, value and divide property, and we work hard to ensure that you receive your fair share of the assets.
Steps in the division of marital property
Maryland courts generally take three steps in dividing marital assets during a divorce. First, during the discovery process, the court classifies each of your assets and debts as marital or nonmarital. Next, it assigns a monetary value to each of the assets and debts that it classified as marital. Finally, it divides those marital assets and debts equitably.
The assets that the court considers include:
Factors that affect property division in Maryland
In Maryland, the court considers on a number of factors when calculating an equitable division of your property, including:
- The contributions, both financial and nonfinancial, that you and your spouse make toward the well-being of the family
- The value of all of your property interests
- The economic circumstances of each spouse at the time of your divorce
- The grounds for your divorce
- The duration of your marriage
- You and your spouse’s age, physical condition and mental health
- How and when certain property items were acquired
Regardless of the circumstances of your divorce, an experienced attorney from the Law Offices of Ellen L. Lee will work with you to ensure that the court awards you your fair share in the property division process.
Protect your property in a divorce
Property division can be one of the difficult phases of a divorce. Learn more about how the Law Offices of Ellen L. Lee can help you. Call (301) 279-0692 or contact our Maryland law firm online today. Conveniently located two blocks from the Rockville Courthouse, our law office serves clients in Montgomery County and throughout Maryland. We also have a satellite office in Bethesda.