Friday, December 04, 2009

What constitutes "marital property" that gets evenly divided in a divorce?

That's a complicated question, but it's an important one to know the answer to in a contested divorce.

Generally, the only things that are non-marital are funds or items that were acquired prior to the parties being married, though there are many exceptions to that rule. For instance, if, after marriage, a person puts his or her spouse's name on the title or deed to premarital property (like putting money in a joint checking account or adding a spouse to a deed on a house owned prior to marriage), the non-marital property becomes marital. On the other hand, some things that are acquired after the wedding day are still considered non-marital. Inheritance is an example of a type of property that is non-marital, even if it's acquired after marriage.

Of course, if the spouse puts the inheritance into a joint bank account, the non-marital inheritance would suddenly become marital cash.

Told you it was complicated.

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