Is Everything Split 50/50 in a Divorce?
When you’re seeking a divorce, it may not seem fair to split everything evenly. You may feel you’ve earned more than your spouse, or you may feel that it’s unfair to split their debts evenly between you.
Luckily, South Carolina doesn’t require you to split all your property evenly. If you believe your property and assets should be divided differently, reach out to Sarah Henry Law for help. Our firm can help you get a fair division of your property during a divorce.
What To Know In Division Of Property
Before a court finalizes a divorce, spouses must split their marital assets and liabilities. There are two options for divorcing spouses: both parties can cooperate to establish how much property each spouse would get, or they can request the court to decide.
In equitable distribution jurisdictions, the court will distribute marital assets fairly between the parties, but not necessarily equally. Before dividing the assets between the couple, the judge must determine whether they are marital or nonmarital property.
Any assets or obligations acquired during the marriage are assumed to be marital property. You and your lawyer can work together to determine an equitable distribution of your assets.
If you possess nonmarital property, you’ll need to provide documentation of your ownership, such as receipts and witnesses. This may include documents like a premarital agreement, so talk with your lawyer if you have these documents.
South Carolina’s Division Of Property Process
In contrast to other states, South Carolina does not have a community property system. South Carolina does not necessarily distribute a couple’s marital assets equally upon divorce. It instead takes stock of the marital properties and considers statutory factors to ensure fair and equitable distribution of assets to both spouses.
However, no matter how objective the decision is, the equitable asset division may be seen differently by one of the spouses.
Only your marital property can be split in South Carolina. Marital properties are assets obtained by the couple during their marriage, such as retirement, pensions, businesses, real estate and automobiles. Joint finances such as bank accounts, credit cards, and stock options, are also considered marital property. All these may be split between you and your spouse, but the proportion will depend on many factors.
If you and your spouse can’t agree, the family court judge will decide how to divide your assets and debts.
Ask a Reliable Divorce Lawyer for Guidance
Splitting property in a divorce can be difficult, and you may be worried you won’t get the fair share you’re due. At Sarah Henry Law, you can rest easy that your lawyer will work hard to defend your rights and interests during your divorce.
Get in touch with us today for a confidential consultation to talk about the specifics of your particular case. You may reach us at 864-478-8324 or connect by completing the online contact form below.