Your marriage has reached the point where divorce is on the table. It can be an intimidating process, made even worse when you aren’t sure what will happen to your property.
A divorce in Easton means you’re going to have to split all of your marital assets equitably, per Maryland law. That means the courts will look for a fair split, which doesn’t necessarily mean they’ll draw the line right down the middle.
Caring about sharing
An equitable split of your marital assets likely means that a judge is going to look at different factors to determine how the division should be made:
- The ages of you and your spouse
- How long you’ve been married
- The reason for the divorce
- The financial needs of you both
- Financial contributions to the household
- Other forms of contribution to the home
- Your individual earning abilities
Under the knife
It’s not just your bank accounts that come into play. The judge will usually be looking at all of your shared assets, including your house, investments and retirement accounts. You’ll need to find the value so the courts can get to work on figuring your share. You may not have to divide them, but the judge may order you to offer compensation equal to your spouse’s chunk.
Divorce can be a complicated process, especially with everything that goes into determining who gets what at the end. Make sure you know how the division goes so you’ll have a better understanding of what could happen to the things you share.