Rockville Property Division Lawyer
Tenacious Representation in Maryland Marital Property Division
Dividing and distributing marital property and debt can be a matter of conflict in a Maryland divorce. Your financial future as a single person can be one of the most crucial issues you face. You will want to ensure that you can move forward with as much confidence in your unmarried status as possible. This is an especially critical matter for those with children, limited resources, high net-worth, high debt, complex financial holdings, or where one spouse has substantially improved their partner’s employability or career through education or training for which they may lose the benefits of their contribution.
At The Law Offices of Ellen L. Lee, we understand your concerns. Many marriages fail over the issue of money leading to continuing animosity over this issue in divorce. Attorney Ellen L. Lee has represented countless individuals throughout Montgomery, Howard, and Frederick counties in resolving all types of financial and property issues in a fair and just manner. Armed with extensive family law insight, keen negotiation and mediation skills, courtroom experience, and a dedication to obtaining positive results, she is a divorce attorney you can trust.
Need help with property, debt, and financial matters in divorce? Request a consultation with our property division attorney online or by phoning us at (301) 417-5351.
Marital Property & Debt Division in Divorce
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 property and debt 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 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 marital assets and debt. Finally, it divides those marital assets and debts “equitably.” Equitable distribution is based on what the court deems as fair and reasonable; this does not always translate to an even split.
The assets that the court considers include:
- Your home
- Investment real estate
- Personal property
- Savings accounts, stocks and bonds
- Pensions and retirement plans
- Musical instruments
- Anything else of significant value
Factors That Affect Property Division
In Maryland, the court considers a number of factors when calculating an equitable division of your property, including:
- The contributions, both financial and nonfinancial, that you and your spouse made 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
This issue can be complicated in any divorce but most especially where complex assets or holdings are involved, such as family-owned businesses or business interests, professional practices, international investments, spouses with executive compensation and benefits, expensive artwork or collectibles, and more.
Regardless of the circumstances of your divorce, our experienced Rockville property division attorney will work with an eye towards seeing that your property rights are protected. We will do everything possible to ensure that the court awards you your fair share in the property division process.
Let our tenacious marital property division lawyer help you navigate critical financial issues in your divorce. Contact The Law Offices of Ellen L. Lee online or at (301) 417-5351 today.