There are two types of property: marital and separate. The separate property of a spouse remains separate after the divorce with a few exceptions. Only the marital property - or the marital interest in separate property- is divided, and it is divided in a manner that is "fair and equitable." It may be difficult to determine what is fair and equitable, but the presumption is that equal is fair, absent a reason for an unequal division.
Where property is separate in part and marital in part, a tracing process is required to allocate the interests and value the marital interests. This can be complicated especially in cases where on spouse owned a business before marriage and marital property efforts changed its value. The same can be true of real property, and the courts approach those assets and their allocation with a tracing process. This process can sometimes be complex, and it may involve the use of experts including business valuators and accountants.
Throughout my twenty-seven years practicing law, I have handled a number of complex divorce proceedings involving complicated property divisions and tracing issues. As your divorce attorney, I will thoroughly answer any questions you may have over the division of property. Contact me today.