Understanding Marital Vs Nonmarital Property
One of the many difficulties during a divorce, regardless of the total net worth of the couple, is determining what is marital property and what is nonmarital property. If you and your spouse are arguing over what should be considered marital property during your divorce, you need an experienced Lakeville lawyer to help you understand and enforce your rights.
At Dwire Law Offices, we have extensive experience in determining what is and is not considered marital property. We also know how to evaluate whether or not it is worth pursuing a non-marital property claim as you and your spouse work to separate your lives. We will fight for what you are entitled to from your marriage. However, we will be honest with you about the probable outcome of any fight you want to take on.
What Is Marital Vs. Nonmarital Property?
One thing to consider with marital vs. nonmarital property issues is the commingling of property. For instance, if you inherited a large sum of money from your uncle and kept it separate from your normal finances, then that can be considered nonmarital property. However, if you used that money to pay bills, go on a vacation or make improvements to your house, that may be considered to be commingling and therefore becomes marital property.
- Marital property is any asset acquired during the marriage, with the exception of certain gifts, inheritances and personal injury awards made to one person.
- Non-marital property can be considered any asset you owned prior to the marriage. If the asset increased in value during the time of the marriage, a portion of the increase may be considered marital property.
- Non-marital property also includes any assets specifically outlined as non-marital in a prenuptial agreement.
The burden of proof for nonmarital property falls to the party trying to claim it. Our attorney will help you evaluate the legitimacy of your claim and how likely you are to achieve success. We will also look for alternative assets to use in negotiation if you are determined to hold on to a particular asset.
Call Dwire Law Offices To Schedule Your Free Consultation
If you have questions or concerns about the property division process, contact us to schedule a free consultation today. You can reach us by calling 866-442-9693 or by filling out our online contact form. From our office in Lakeville, we represent clients in Apple Valley, Burnsville, Eagan, Lakeville, Prior Lake, Savage and Shakopee.