When couples divorce in Maryland, their property is subject to equitable distribution. This does not mean that all property is split 50/50. It means it is divided in a fair and impartial manner. Further, only marital property subject to equitable distribution. Separate property will be kept by each spouse.
Because there are so many factors to consider when determining separate versus martial property, and then dividing marital property, it is best to work with a skilled Annapolis divorce attorney. You must ensure that all of your financial information and assets are clearly defined and presented, and that your spouse does the same. Your attorney will know what property is yours and what is subject to division. Your attorney will know how to present this information during negotiations, mediation, or litigation.
Serving clients in Annapolis and across Maryland, DiPietro Law Group, PLLC can address your property division needs with professionalism and care. Call (410) 220-6784 to learn more.
Marital vs. Separate Property
Generally speaking, marital property will include everything purchased or obtained after a marriage. Even assets that were earned or acquired in only one spouse’s name, as long as they were acquired during the marriage, are typically considered marital property. Separate property includes assets that a person had prior to a marriage. Gifts and inheritances, as well as proceeds from these, may also be considered separate property, if they were gifted to or inherited by a single spouse.
Our Annapolis property division lawyers can help you address any and all assets, accounts, and property under Maryland’s equitable distribution laws. This includes:
- The marital home
- Other real estate (residential, commercial, or undeveloped land)
- Cars, boats, and other vehicles
- Jewelry and art
- Interest or shares in a business
- Investment accounts
- Bank accounts
- Retirement savings
Make sure your property and your interests are protected through your divorce. Call (410) 220-6784 or contact us online for experienced counsel.