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[ The information provided herein is not designed to, nor does it, create an attorney-client relationship]
Generally, property and debts acquired while married are deemed marital property and may be divided in the divorce, regardless of which spouse's name is on the title. Separate property or debt is not divisible in the divorce and includes property and debt which was acquired before the marriage, was an inheritance or gift from a third party, is excluded by a valid agreement, or is directly traceable to separate property.
When awarding the family home, the court may grant possession to the custodial parent in an effort to provide continuing stability with regards to the minor children. Towards this end, the court may order either or both spouses to pay the mortgage or expenses for the family home.
If the couple is unable to divide their property and debts, it will be determined by the court. When determining how the marital estate will be distributed, the court takes into consideration the following factors: (1) the number of years of marriage; (2) how much each spouse contributed both monetarily and otherwise to the family's well-being; (30 the assets and debts of each spouse, including how they were acquired; (4) what caused the demise of the marriage; (5) the age of each spouse and their physical and mental capabilities; (6) whether alimony or use of the family home will be awarded to one spouse; and (7) any other factors the court considers necessary to achieve an equitable distribution of the marital estate.
[ For an initail courtesy consultation, contact Attorney Charles Ware at (410) 720-6129.]
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