Maryland Division of Assets Attorney
When a marriage ends in divorce, couples have to worry about more than their emotional separation; they must also decide how to divide their marital assets.
This is not always an easy task. The heightened negative emotions that come with divorce can complicate the division of assets.
Having a compassionate family law attorney by your side as you go through the process will help you avoid the stress and ensure that your rights are protected. Contact our Maryland family law attorney at Shah & Kishore for more information on how we can help.
How Shah & Kishore Can Assist You
- Our unique financial background sets us apart from other family law firms in Montgomery County, Maryland.
- Our partner, Rahul Kishore has an educational background in Economics and Finance as well as a Master’s in Business Administration (MBA). His financial knowledge and background allows him to easily handle division of assets cases that involve real estate, stock options, retirement accounts, and businesses.
If you are looking for a dedicated family law attorney to advocate on your behalf and protect your interests, call our experienced division of assets lawyers today at (301) 315-0001 to schedule your free consultation.
What Types of Assets Are Considered for Division of Assets in Maryland?
For the purpose of division of assets, a determination must be made as to what category the assets fall into. Assets can be marital property, non-marital property, part marital and part non-marital property, and family use personal property.
- Marital property is any property acquired during the marriage, regardless of who paid for it. It includes real estate, bank accounts, stock, pensions, furniture, retirement assets, cars and other personal property.
- Non-marital property is any property that is acquired before the marriage, which is protected from the debts of the other spouse. It is also any property that is acquired based on agreement between the two parties or through inheritance.
- Part marital and part non-marital property is when the property becomes both. For example, a house purchased before the marriage would be non-marital property but if marital funds are used to pay the mortgage, it would then also become marital property.
Family use personal property refers to any tangible property that was acquired during the marriage, used by one or both of the parties, or used for family purposes.
Working with an experienced Maryland divorce lawyer can help with the process of determining the division of assets.
Factors that Determine the Division of Assets
Maryland is an equitable distribution state. This means that marital property is divided to satisfy equity and fairness, rather than equality.
In community property states like California, marital assets are divided equally between the parties. To make an equitable determination of the division of assets the courts consider a number of factors including:
- The value of all property interests of each party;
- The monetary and non-monetary contributions of each party to the wellbeing of the family;
- The circumstances that led to the divorce;
- The economic circumstance of each party at the time of the award;
- The duration of the marriage;
- The age, and physical and mental condition of each party;
Contact a Maryland Division of Assets Attorney for Legal Assistance
Division of property in a Maryland divorce can be very complicated. While the courts seek fairness and equity, their decisions can only be based on evidence.
Working with the family law attorney at Shah & Kishore will give you access to Mr. Kishore’s unique financial background and understanding. He is able to determine the accurate valuation of financial assets in collaboration with other experts. This combination of skill and experience will drive optimized results for you.
If you want more information, contact us online to schedule a free consultation or call (301) 315-0001 to speak with our skilled division of assets lawyer in Montgomery County, Maryland.