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When a couple pursues a divorce, the court must rule on several different aspects to issue the final divorce decree. Ideally, both spouses agree to settle their divorce, and it will only need the signature of a judge. If not, the divorce will proceed to trial, and the judge will determine the issues in your divorce. One of the most highly charged issues is that of asset division. It is crucial that you have a family law attorney in Maine by your side when negotiating a settlement for property division. If you do not, you could risk losing many assets. The loss of such assets could impact your life substantially both now and in the future.
Non-marital property is property that was owned by one spouse before the marriage took place. In some cases, it can also be gifts or inheritances received by one spouse during the marriage. Non-marital property can include property written explicitly into a prenuptial agreement. Non-marital property also comprises assets that were acquired:
Sometimes differentiating between marital and non-marital property is not as straightforward as it may seem. Some property can be part marital property and part non-marital property. For example, owning houses separately prior to the marriage and then continuing to own the home during the marriage. Factors such as if home improvements were made during the marriage or if the home has a mortgage should also be considered.
Other types of assets that will need to be defined as marital or non-marital property include:
Generally, separate property is not divided in Maine. Some states use the standard of community property when a couple gets divorced. In community property states, assets are allocated between both spouses as equally as possible. However, Maine uses the premise of equitable distribution. In this state, the first step in asset division is determining marital vs. non-marital property. The marital property will be subject to an equal distribution in a divorce. In contrast, separate property will remain with its rightful owner.
Divorce often comes with a lot of worries and uncertainties, such as what will happen to your assets, or you will be entitled to the family home. The lawyers at The Maine Divorce Group understand how stressful and confusing this time in your life can be. We may not be able to change your circumstances. However, we can help you understand the legalities of how your assets must be handled in a divorce. Our lawyers are dedicated to achieving the best outcome possible in your divorce case. Contact us today to schedule a meeting with one of our qualified family law attorneys.
Excellent law firm.
Thank you for providing the best lawyer services in Maine and achieving the results I wanted. Keep up the great work!
They were very professional and the services provided to me were beyond my expectations. I was able to leave the issues in the hands of Mr. Bly and not only did he provide excellent service, but went above and beyond on my case. The outcome was better than I could…
Honest and fair practice. Treated me right, from the first point of contact until completion.
This team is the best around! Very professional , caring and involved. I would highly recommend their services to anyone in need. Very prompt at answering questions and you’ll allows get a personal experience while calling them. Thank you guys for making our situation a lot easier.
Every person at this firm was exceptional. I would highly recommend them. They more than exceeded my expectations and made a very stressful situation much easier to handle. I cannot express my gratitude enough!
Contacted Attorney Bly for a consultation on a sensitive issue. His staff is wonderful and caring and extremely attentive with their contact. Attorney Bly was extremely helpful with his guidance and recommendation for my case. He listened to what I had to say and made excellent suggestions for a path…
Good communication and very knowledgeable.
Excellent Attorney! Highly recommended.
The attorneys at The Maine Divorce Group understand how emotional and complex the divorce process can be and we are here to help.
Call to speak with a member of our team today, who can discuss your case and set up a consultation with one of our attorneys.
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