Property and Asset Division

When a couple is going through a divorce or dissolution, it is necessary to divide up all assets and debts accumulated during the marriage. The courts divide both marital assets and marital debts in a fair and equitable manner.

In order to determine what is fair and equitable, it must first be determined what assets exist and their value, and what debts exist and their balance.

After all of the assets, property and debts are identified, they must then be properly characterized as marital and non-marital Generally, non-marital assets includes property acquired before the marriage (referred to as pre-marital assets or premarital property), inheritances, and gifts, while marital property is property accumulated during the marriage regardless of which party is identified as the owner. Likewise, non-marital debts are generally debts incurred prior to the marriage, while marital debts are debts accumulated during the marriage regardless of whose name is listed as the liable party.

The DO Family Law attorneys represent divorce and dissolution clients in all types of financial situations, including: high-asset divorce cases involving family businesses or professional practices, as well as, cases where bankruptcy may be necessary prior to a divorce action in order to simplify the process of dividing property. We assist our clients with creating individualized solutions that ensure their financial future.