When getting a divorce, it is normal to want to walk away with one’s fair share of marital assets. If a couple is able to work out their own property division agreement, the terms should reflect those wishes. If a divorce case goes to court, a Maryland family court judge will get to decide how property is divided and while the final a settlement should be equitable, it may not grant each party what they want.
Maryland is considered an equitable distribution state. That means that all marital property is up for grabs when a couple chooses to divorce but it will not necessarily be divided in an even 50/50 split. There is some flexibility in how property is divided. For example, say one party wishes to keep the marital home, the other party may get a greater share of monetary or physical assets that equal the same value of the home. The goal is to allow each party to leave the marriage with roughly an equal share of assets.
Like other states, Maryland does allow individuals to keep any separate property they brought into the marriage or received during the marriage. Such property might include real estate, inheritances and gifts — among a number of others. In order for these things to be considered separate property, there will need to be proof that they were not commingled with marital assets or funds.
The property division phase of divorce can be difficult to get through. While there are some couples in Maryland who can come to agreeable terms through the negotiations process, there are others who will need to litigate the matter and allow a judge to have the final say in who gets to keep what. No matter which way one’s case goes, legal counsel can help one fight for his or her fair share of marital assets.