• "Marital property" means the property, however titled, acquired by 1 or both parties during the marriage.
  "Marital property" includes any interest in real property held by the parties as tenants by the entirety unless the real property is excluded by valid agreement.
  "marital property" does not include property:
   (i) acquired before the marriage;
   (ii) acquired by inheritance or gift from a third party;
   (iii) excluded by valid agreement; or
   (iv) directly traceable to any of these sources.

To Simplify the Subject of Marital Property

Think Of Marital Property as Value Acquired During Marriage, No Matter How Titled, and you Will Understand Marital Property.

_____________________________

 How the Process Works

The court must initially characterize all property owned by the parties, however titled, as either marital or nonmarital.Once characterized, the value of the marital property must be determined.Thereafter, the value of the nonmarital property of each spouse is assigned to that spouse and the value of the marital property is equitably distributed between the spouses. It is the source of funds that is of paramount importance in characterizing property as marital or nonmarital. There are other issues to consider in this area. For example:

Dissipation

Commingling Of Funds

• Real Property

• Personal Property

Pensions

toll free 1-888-760-7339 

Count on an Attorney With Experience