During a divorce proceeding, the Court will ultimately have to make a determination regarding what assets and debts constitute the “marital estate”. That can include items such as real estate, banking and investment accounts, retirement accounts, vehicles, and other assets.
Sometimes, assets may be titled in both parties’ names; those assets will generally be considered as marital property. Other times, assets may be titled in only one party’s name; however, that individual title doesn’t necessarily mean that the asset is not marital property.
For example, a retirement account is typically only held in one name, but it can often contain marital funds. The Court will determine what is contained in the marital estate and try to divide that property “equitably”.
If you need help with evaluating assets in your divorce case, please feel free to contact my office and schedule an appointment.
If you have any questions about the topic discussed in this article, or any family law matter, please give us a call at Bononi & Company (724) 832-2499.