In any divorce case in Maryland, the court must go through a 3-step process when dividing the parties’ marital assets. First, the judge must determine which assets are marital (acquired during the marriage by either party) and which assets are non-marital (acquired by one party through a separate gift or inheritance or is directly traceable to pre-marital assets).
The asset’s title does not determine whether it is a marital asset. Second, the judge must determine the value of all marital property. Finally, the judge makes an equitable (or fair) division of the marital assets based on the factors set out in Maryland Code, Family Law Article, § 8-205. As part of an equitable division of marital property, the court may give one party a monetary award.
McMillan Metro’s family law attorneys are experienced in helping clients locate, value and claim their interest in marital and non-marital assets. Please call us at (301) 251-1180 or submit an online inquiry to discuss how we can help you assert your claim to any marital or non-marital assets.