Property Division Attorney in Lexington, SC

Many times in a divorce or separation, the assets need to be divided. South Carolina follows the law of Equitable Distribution for dividing most marital assets and debts. First, “marital” property and debt must be identified, classified and valued. Next, that property and debt have to be divided equitably according to the guidelines of state laws. As an experienced family court attorney, Nancy  can provide a legal strategy that is focused on keeping the assets that are most important to you.

Generally speaking, marital assets and debts are those incurred or accumulated during the marriage either jointly or separately. The title of the property or the name attached to the debt does not determine whether it is a marital asset or debt. Gifts from one spouse to the other are typically marital property, vested and non-vested retirement benefits earned during the marriage are marital, and the increased value of property owned before the marriage which is a result of marital efforts can be marital property. Non-marital property can include inheritance, gifts from third parties to a spouse, assets owned before marriage, assets specifically excluded by a prenuptial agreement, and others. Each asset is potentially one or the other, and couples frequently squabble over items, both large and small. Marital property is valued as of the date the lawsuit is filed. Any subsequent appreciation or depreciation of assets after filing but before divorce will also be partitioned.

The term “equitable” is rarely “equal” in marital property division. This is where all of the “horror stories” are born. Rarely are both spouses satisfied or feel they got everything they deserved. This is why negotiating in good faith and being willing to compromise for the greater good is important. At a minimum, you retain some degree of control over the process. If the parties cannot reach an accord, the court will decide after a trial before a family court judge.

Each situation is different. We can explain the factors and how they may apply to your case. Many clients tend to stress over this part of the process. They have worked hard to earn what they have and do not want to lose assets. Nancy will work with you to protect those assets that are most important to you and to understand the laws regarding division of property.