Division of Marital Assets and Debt

Rockville, Maryland Family Law Lawyers

Maryland and Washington D.C. follow “equitable distribution” rules when dividing property, as opposed “community property” rules. This means that the division of property is conducted in a fair and equitable manner instead of a general 50/50 split. Valuing and divinizing marital assets can be complicated and may require and an analysis as to each item of property.

When dividing marital property, Maryland courts will consider such factors as the age and health of each spouse, the reason for the divorce, monetary and non-monetary contribution to the marriage, the earning capability of each spouse, the length of the marriage, and whether a spouse had wasted or dissipated marital property.

Marital property includes assets acquired by either spouse during the course of the marriage regardless of title. However there are certain exceptions such as gifts, property owned prior to the marriage, inheritance, property excluded by a valid agreement, or property acquired with non-marital funds. Marital property may include real property and houses, automobiles, pensions and retirement accounts, bank and investment accounts, stocks, businesses, and other assets.

To discuss issues relating to your assets and liabilities, contact one of our attorneys at (240) 386-8705 or fill out our contact form to schedule a consultation. The Law Firm of Minshew & Ahluwalia LLP provides legal representation to residents in Washington, D.C., and throughout Maryland including Montgomery County, Frederick County, and Prince George’s County.

The Law Firm of Minshew & Ahluwalia LLP is conveniently located in Rockville, Maryland, near the District and Circuit Courthouses for Montgomery County, Maryland and within walking distance to the Rockville Metro Station on the Red Line. Free parking is also available.