Ellicott City Property Distribution Lawyer
As you plan for your future after your divorce, you want to start off on the right foot. That means protecting what's yours and making sure all marital property is divided fairly. At The Law Office of Beth Jackson Day, P.A., we can help you come up with a fair property distribution settlement. From your house, to your retirement plan, we will make sure you protect your financial future.
Simple Solutions for Complicated Problems
Contact Family Law Attorney Beth Jackson Day
Maryland is an equitable distribution state, which means marital property is divided between a divorcing couple in a "fair" manner. This does not necessarily mean 50-50 and can depend on several factors, such as the length of the marriage or non-marital assets. Marital property is generally comprised of assets acquired during the course of your marriage. This can include your earnings, your car, and other property interests.
There are exceptions to this, such as gifts and inheritances. We will take a look at all the assets you have collected during the course of your marriage and the property you brought into the marriage to fully evaluate your rights and how you can protect your interests. We will examine all your holdings in:
- Real property
- Retirement accounts
- Personal property
Business Ownership Interests
Family-owned businesses and ownership interests in other businesses are subject to many of the same property distribution factors as other property interests. The distribution of assets as it pertains to a family business or corporation are extremely complex and require an intense analysis of available facts. We will work with business evaluators in order to appraise the property and value of the business, as well as the value of your share and the value of your spouse's share of the business as applicable.
Debt is divided in much the same way. There is no specific statute, but debt is generally divided on an equitable basis. The court will consider the impact of debt, and make sure it balances out with the rest of your property distribution.
Contact Us
The plan you come up with for property distribution, will have a big impact on your financial future, so make sure you get accurate information and protect your rights. From our Ellicott City law offices, located just steps from the Howard County Courthouse, we are ready to answer your questions. Schedule an appointment with a knowledgeable attorney.
