There is a difference between marital and non-marital property. As family law attorneys in Fort Mill, South Carolina, Harden Law has experience in many divorce cases where marital property must be divided.
Here is some basic information on the difference between marital and non-marital property:
Assets
Non-marital property is considered any asset that was acquired or owned by one spouse prior to the marriage. An inheritance bestowed upon a spouse by a third party during the marriage is another example of non-marital property. If an asset was given by a third party as a gift to a spouse during the marriage, this is also considered non-marital property.
Real and Personal Property
When items are acquired by both parties during the marriage, such as gifts between the spouses, vested and non-vested benefits or even funds accrued such as retirement accounts, pensions and real property, these are considered marital property items.
There are many exceptions to the list and different circumstances that may affect the division of marital property. In some cases, non-marital property can be interpreted as marital property and vice versa. For help in this type of circumstance, please contact an experienced family law attorney; Harden Law in Fort Mill, South Carolina, specializes in these matters. Harden Law can provide sound legal advice on the topic of marital and non-marital property including division of assets and support.
