One of the most important parts of the divorce process is dividing what each person owns. Courts do not just split everything evenly without looking deeper. They distinguish between marital property and separate property, and only marital property is subject to division.
Knowing what qualifies as marital property can help you prepare for the financial side of divorce, whether you expect to settle or go to court.
The Basics Of Marital Property
Marital property includes most assets and debts acquired during the marriage. This usually covers income, homes, vehicles, retirement accounts, investments, and debts taken on while the couple was together. It does not always matter whose name is on the account or who earned the money. If it was obtained while married, there is a strong chance it will be treated as shared.
This applies to both physical items like furniture or real estate and intangible ones like pensions or investment accounts. Courts focus on fairness, not necessarily a fifty-fifty split. They consider things like financial need, length of the marriage, and each person’s contributions.
What Is Considered Separate Property
Separate property is generally not divided in a divorce. This category includes anything one person owned before the marriage, gifts made to only one spouse, and inheritances received individually. Property that was clearly kept separate with a written agreement also falls under this label.
Things can get more complicated when separate property becomes mixed with shared property. For example, if one person owned a house before the marriage but both people paid into the mortgage later, some of the property’s value may become marital.
Income And Retirement Accounts
Money earned during the marriage is typically counted as marital, no matter which spouse earned it. This includes wages, bonuses, and any retirement savings built during the marriage. Accounts like 401k plans or pensions are often included.
If part of a retirement account was built before the marriage, that portion may be treated as separate. It depends on the records available and how much of the account grew during the marriage.
Debts Are Also Divided
Just like assets, debts are reviewed during divorce. If either spouse took on debt during the marriage, it may be considered joint even if only one person signed for it. This can include credit cards, personal loans, or medical bills.
Courts often look at who benefited from the debt and who is in a better position to pay it. Some debts may be treated differently if they were tied to irresponsible spending or hidden purchases.
Why Legal Support Is Helpful
Dividing property can be harder than it looks. People do not always agree on who owns what or how assets should be handled. Our friends at Kantrowitz, Goldhamer and Graifman P.C. have experience working through these situations and helping clients document what is marital and what is not.
A divorce lawyer can assist with collecting financial records, reviewing property documents, and building a clear case. This can be especially important when high value items or long term financial plans are involved.
Moving Forward With Confidence
Property division in court depends on how things were acquired and used during the marriage. Knowing what counts as marital property gives you a better chance at a fair outcome. With the right support and a clear view of what is yours, you can move forward more prepared for what comes next.