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The Power To Move Forward
At the time of the divorce, “marital” property and
property rights are divided by the court and distributed to the spouses as the court
determines to be fair and equitable. “Non-marital” property and property rights are not
typically divided, but are awarded to the party that owns the
property.
Marital property:
Marital property is
property acquired during the marriage that is not by gift or inheritance. Furthermore, it makes
no difference in whose name this property is held. For example, a spouse’s 401(k) profit-sharing
or pension plan which is held in that spouse’s name only, becomes marital property for any
portion of those benefits which were acquired during the marriage.
Non-marital property:
Non-marital property is property acquired prior to the marriage or property that
was given to or inherited by one spouse during the marriage that was kept in that spouse’s own
name. This property will generally be treated as non-marital property at the time of the
divorce, unless, if at any time, the other spouse was placed in title or becomes a co-owner of
the property, then it could be considered marital property.
Dissipation of property:
Dissipation occurs when marital property is improperly used for the sole benefit
of one spouse, for a purpose unrelated to the marriage at a time when the marriage is going
through a breakdown. Expenditures held to constitute dissipation are extraordinary expenses that
clearly do not further common marital interests.
Contact Us to set an appointment. The consultation is free. We look
forward to working with you and we know you will be pleased with our services.
See FAQs for more information.
We
don’t just provide legal services; we build relationships.
It gives us a
genuine satisfaction to meet and help you in some meaningful way.
The entire staff
of the McDermott and McDermott Law Firm is knowledgeable and sensitive to your
needs.
Their focus is on
making the process as comfortable as possible
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They explain
everything to you,
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keep you
informed,
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include you in the
decision making process,
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and always return
your phone calls.
Your matter is
handled as expeditiously as possible without compromising your rights.
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testimonial page and see what other clients have to say about
us.
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resources area, there you will find links to many helpful
services.
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