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Settlement Agreement Lawyer in Beaufort SC

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Dividing property is a complicated business. In South Carolina, property is either “marital” or “non-marital”. The first step in the process is to distinguish the marital property from the non-marital property. This is sometimes a difficult process, as transmutation of non-marital property often occurs during a marriage, either intentionally or through other acts between the husband and wife.

Non-marital (or separate) property is not included in property division. This would include property:

  • Acquired by gift or inheritance
  • Acquired in exchange for non-marital property
  • Acquired due to an increase in the value of any non-marital property
  • Acquired prior to marriage

Marital property is all jointly owned property and all other property, except “ separate property” acquired by either spouse during your marriage and up to the time of your separation. This can include almost anything acquired during the marriage— from a business to real estate to artwork, etc. Investigators and forensic accountants are commonly used to investigate assets and income to help achieve a fair and equitable result. Following identification, an expert determined collective value on the sum of all marital assets.

In deciding how to divide the marital property, judges will consider various factors, including:

  • The duration of the marriage together with the ages of each spouse at the time of the marriage and at the time of the divorce
  • Any marital misconduct
  • Income and earning potential of each spouse
  • Physical and emotional health of each spouse
  • Needs of each spouse for additional training of education to achieve that spouses income potential
  • Non-marital property of each spouse
  • Any vested retirement benefits
  • Whether alimony has been awarded
  • Desirability of awarding family home to spouse that has custody of any children
  • Tax consequences of equitable apportionment
  • Existence of any support obligations from a prior marriage
  • Liens or other encumbrances upon marital property
  • Child custody arrangements and obligations

For an Beaufort SC attorney highly knowledgeable about the financial aspects of divorce and equitable division of marital assets, please contact The Law Offices of H. Grady Brown at (843)379-3900. We will help preserve your property rights.