Most property is deemed either marital or non-marital, with the exclusion of retirement accounts. The classification of property will not change over time, unless the courts cannot determine if the property is marital or non-marital, in which case it will be presumed to be marital.
Non-marital property consists of the following:
- Property acquired prior to the marriage, even if the parties are jointly contributing to the asset post marriage. For example, by paying off a mortgage on a home, or the spouse working at a business established prior to the marriage even if it is without compensation.
- Property acquired by a gift or inheritance even if it is obtained during the marriage.
- Property acquired during the marriage, but paid strictly from the sale or use of non marital assets.
Property that is non-marital cannot be given to the other spouse, however it will be considered in determining what portion of the marital estate the spouse with the asset should be given, and whether the other spouse should be entitled to maintenance. The marital estate may be entitled to a contribution for the marital assets that is spent on the non-marital asset. Our job as your attorney is facilitate these conversations and obtain a resolution that is best for both parties.
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