Representing Clients In Marital Property Division
Outside of child custody and support, dividing marital assets is one of the biggest sources of conflict and stress in divorce proceedings. Deciding who gets the house, who is responsible for debts and how retirement accounts and other assets will be divided often turns into an emotionally charged negotiation. Even in amicable divorces, it is recommended that you have an attorney who can protect your financial interests.
At the Law Office of Erin Muldoon Haug, I can take a pragmatic look at your financial situation. I have over 15 years of experience fighting to make sure my clients get their fair share of assets and property in the divorce process.
Reviewing Your Assets During Divorce
We begin the process by doing a thorough review of all of the assets and debts acquired before and during your marriage. The laws that determine whether an asset is considered marital property can be confusing. Not all assets you and your spouse obtained during the marriage are always marital property, and not everything you had before the marriage is personal property. I sit down with you after doing a detailed analysis of your assets and property, and explain what you can expect from the court. This is the point where you decide if there is anything you want to fight for.
Standard Items Divided As Part Of Marital Property
Inheritances and gifts acquired during a marriage are considered personal property. Almost all other assets earned or obtained by either spouse during the marriage are considered marital property belonging to both spouses. Typical assets and property that are divided include:
- House, vacation properties and land
- Motor vehicles
- Retirement accounts and pension plans
- Stocks and bonds
Debt accumulated during the marriage is also divided equitably during the divorce. This includes all types of financial obligations, including mortgages, back taxes, car loans, credit cards and any type of bill with a balance owed.