Property Division Attorney in Queen Anne’s County
Providing the Representation You Need to Protect Your Assets
Part of the divorce process involves dividing assets and property and, unfortunately, the situation can get incredibly heated and contentious. After all, you worked hard to achieve what you have in life and you do not want to lose any of your separate property. At Matthew Penick Law in Queen Anne’s County, our knowledgeable family law attorney has been providing exceptional legal advice for those going through the divorce process for more than a decade. You can rely on our team to help you safeguard your assets.
How Does Maryland Divide Property and Assets?
Maryland is an equitable distribution. Unlike community property states, which divide assets as equally as possible, equitable distribution states split assets and property as fairly as possible. In this context, fair does not necessarily mean equal, so one spouse may end up with a larger share of assets, depending on the circumstances.
Marital property is defined as any property you or your spouse acquired during the marriage. It excludes gifts, inheritances from a third party, or property that was acquired before the marriage took place, which are all considered separate property. If you and your spouse have a prenuptial or postnuptial agreement that defines marital or separate property in different terms, however, it will be enforced in court unless a judge deems that it is invalid.
When dividing marital property, a judge will examine several factors:
- The length of the marriage
- What each spouse contributed to the household
- When and how certain assets were obtained
- The financial circumstances of each spouse
- If either spouse committed any acts of marital misconduct that contributed to the divorce
- The health, age, and mental condition of each spouse
- If either spouse was awarded the marital home or alimony
- Any other factors the judge deems pertinent to the case
If your spouse wasted marital assets in anticipation of the divorce, the judge may award you a larger sum of marital assets to make up for the wasted assets if you can prove that wasteful dissipation occurred. Our experienced attorney can guide you through this challenging process.
Schedule a Free Consultation with Our Experienced Divorce Attorney Today!
If you are getting a divorce, your marital property will end up on the chopping block and It is important to protect any items that should not be subject to division. At Matthew Penick Law in Queen Anne’s County, our knowledgeable divorce attorney has more than a decade of experience and is committed to helping clients navigate some of the difficult situations they will ever face. You can rely on us to ensure you receive the best possible results for your divorce case.
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