You might think your marital assets are pretty cut and dry. Usually, this is not the case. Marital property is primarily houses, furniture and automobiles, but marital assets can also include intangible items, like retirement and investment accounts, business and professional practices, and military benefits. In most cases, any property owned prior to your marriage, as well as gifts and inheritances given solely to one spouse during the course of your marriage, are not considered marital assets. However, any appreciated value or capital gain acquired during the course of the marriage may be.
Evaluating marital assets is not a task that should be approached rashly. Property settlement agreements, once ratified by the court, are generally permanent in nature. A qualified family law attorney can help you ensure that all your marital assets are being considered in your property settlement negotiations and agreements. Before entering into an agreement of this type, seek the advice of a lawyer experienced in the complexities of asset distribution. John Fernandez has vast experience in asset litigation, financial mediation and settlement negotiations. He can help you rest assured that your marital property is being distributed fairly.