Fulton, MD Property Division Lawyer

Fulton, MD Property Division Attorney

The division of property is an important part of the divorce process, but it can be a challenge for some couples, especially when certain assets have sentimental value to one or both spouses. Trying to decide who gets what assets can be time-consuming, requiring both parties to be open and cooperative during negotiations. With the help of a Fulton property division lawyer, the entire process can be much smoother and more efficient for everyone involved.

For a more comprehensive approach to family legal matters, a Fulton attorney for family legal matters will be able to provide valuable guidance on all aspects of divorce and family law. Whether you are seeking to resolve custody issues, spousal support, or other family-related concerns, an experienced lawyer handling divorces in Fulton can support you throughout the legal process and help you achieve a favorable outcome.

The legal team at the Law Offices of Todd K. Mohink, PA, provides excellent service in multiple areas of family law, including property division. We focus on our clients’ rights and interests, offering strategic advocacy and tailoring our services to meet specific needs. Our lead attorney, Todd K. Mohink, has over two decades of legal experience, ensuring our clients are provided with legal representation of the highest quality.

Understanding Property Division in Fulton, MD

The state of Maryland is an equitable distribution state when it comes to property division. This means that the primary goal in the property division process is to distribute marital assets in a way that is fair and just, as opposed to equal. The court determines how to distribute property based on factors that are relevant to any given case. Spouses have the opportunity to negotiate the terms of an agreement without the court, either on their own or with the assistance of a mediator or lawyer.

When parties cannot come to an agreement, and the court has to intervene, several factors are taken into account to determine how the marital property should be distributed, including:

• The contributions of each spouse to the marital estate and the welfare of the family
• The length of the marriage
• Each spouse’s economic circumstances
• The age and mental/physical health of both parties
• When and how marital property was acquired
• Each spouse’s property interests value
• How much either spouse contributed to the procurement of the property

These factors are considered to keep the property distribution process fair, although it may not seem fair to one or both spouses. If you want control over how your marital assets are divided, you must come to an agreement with your spouse. A property distribution lawyer can serve as a mediator to ensure negotiations are constructive.

Marital Property and Separate Property

It’s important to understand the differences between marital property and separate property when deciding how property will be distributed. Marital property includes many assets that are acquired during the marriage by either spouse, and these are the only assets that are subject to division during a divorce. Assets that are usually considered marital property include:

• Bank accounts and income earned during the marriage
• Real estate property
• Retirement benefits
• Family use personal property, such as vehicles and furniture
• Property purchased with marital funds

Separate property is assets acquired before marriage and specific assets acquired by one spouse during the marriage. Such assets can include:

• Property owned before marriage
• Assets given to one spouse as a gift or inheritance
• Property kept separate through a valid marital agreement, such as a prenuptial or postnuptial agreement

There are some cases where separate property can become part of marital property through commingling. This happens when marital assets and separate property are mixed together, either purposely or accidentally. If marital funds are used towards separate property or if the value of separate property increases during the marriage because of efforts made by both spouses, the property could then be considered part separate and part marital.

In order to divide commingled property, the court may take into account the value of the separate property before commingling occurred or the contributions made by both parties to the maintenance or growth of the property. During this process, it is essential to provide the necessary documentation to validate your claims concerning the initial value of the property and contributions made.

FAQs About Fulton, MD Property Division Law

How Long Does the Property Division Process Take?

In Fulton, MD, the property division process can vary in duration, depending on how complex the case is and how long it takes the parties to come to an agreement. Cases that involve high-value assets or complex assets, such as a business, may take more time to value and negotiate. It may also take time for each party to gather and exchange information about finances and assets. Contested cases tend to take longer to resolve if the parties cannot agree and a court intervention becomes necessary.

How Does the Length of a Marriage Affect Property Division in Maryland?

The length of a marriage can have a big impact on property division, being one of the factors considered by the court in the distribution process. A longer marriage may be seen as an indication that both spouses contributed significantly to the marital estate in some way, not just monetarily. Therefore, lengthier marriages may lead to a more equal division of property. Shorter marriages, however, may not be viewed the same, resulting in a less equal division.

Can I Represent Myself During Property Division Negotiations?

Yes, you can technically represent yourself during property division negotiations, although it is not typically advised to do so, even if you don’t have complex assets. The property division process can be emotionally charged and complex. Representing yourself can be a disadvantage, especially if your spouse hired representation. A property division lawyer can give you invaluable advice and guidance as they help you work towards an equitable distribution of your marital assets.

Can I Modify the Property Division Agreement After the Divorce Is Finalized?

Generally, a marital property division agreement cannot be modified after the divorce is finalized. Once the agreement is approved by the court and a final divorce decree is issued, the terms of the property division typically cannot be changed. The court may consider modifying a property division under very specific circumstances, but it is not common to do so.

Consult With the Law Offices of Todd K. Mohink, PA

To ensure your rights and interests are protected throughout the property division process, work with an experienced property division lawyer from the Law Offices of Todd K. Mohink, PA. We can make sure your property division agreement reflects your needs and financial circumstances accurately. Contact us today and schedule a consultation to get started.