Money Secrets Divorce Attorneys Wish You Knew

Marital property

Ideally, when a couple is happily married, no one is thinking in terms of “yours” versus “mine” versus “ours.” But when things break down, the distinction is critical because “who leaves with what” comes down to what is and is not “marital property.” According to fathers’ and children’s rights advocate and family law professor Anne P. Mitchell, “marital property” is generally everything accumulated during the marriage (regardless of whose name it’s in). Although it varies by state, generally, the following do not count as marital property:

• Anything owned by either spouse prior to the marriage or following separation
• An inheritance received separately by either spouse
• A gift received separately by either spouse

Check out some marriage advice from divorce attorneys.

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