Towson Divorce Lawyer | Marital Property | Equitable Distribution.
Divorce Lawyer Amar S. Weisman Uses Precision, Knowledge, and Experience To Advocate For Clients
Expertise.Com recognizes Amar S. Weisman as one of the Top 22 divorce lawyers in Baltimore and Law and Practice Magazine as one of the top divorce lawyers in Maryland. Amar S. Weisman has distinguished himself with positive peer and client reviews on Avvo and Google by bringing his prodigious work ethic to every case. Regarding property, Mr. Weisman prepares court papers and exhibits to present property issues to the Court in a manner that conforms to the law and the facts of the individual case.
In Maryland, equitable distribution is the guiding principle for dividing marital property during an absolute divorce, ensuring fair allocation of assets acquired throughout the marriage regardless of how they are titled. Under the Maryland Marital Property Act, courts focus on equitabl distribution rather than a strict 50-50 split, empowering judges with substantial discretion to determine each spouse's share based on statutory factors. Key considerations in this marital property division process include the length of the marriage, monetary and non-monetary contributions by each party to the marriage, the age and health of the spouses, and the circumstances contributing to the marriage's dissolution. Unlike a rigid, predictable formula, equitable distribution in Maryland resembles an art, enabling judges to craft tailored outcomes that may vary significantly from case to case. As a seasoned Towson divorce attorney, Amar S. Weisman has successfully guided numerous clients through Maryland's three-step equitable distribution process, securing favorable results in complex asset division matters. If you are facing property division in a Maryland divorce, contact our firm for expert assistance.
Equitable Distribution Requires Attorneys to Account For All Tangible and Personal Property
To craft the property component of each divorce case, Mr. Weisman communicates with clients. He obtains information through discovery to account for the significant tangible and non-tangible property appropriate for adjudication. These include but are not limited to the following: Bank Accounts.
- Businesses
- Corporations
- Electronics
- Franchises
- Investment Accounts
- Jewelry
- Marital home
- Rental Properties
- Home Furnishings
Equitable Distribution: The Three-Step Process
Equitable distribution is the legal process of fairly dividing marital property between spouses during a divorce. In Maryland, this process is guided by key documents each party must provide – the Joint Statement of Marital and Non-Marital Property (Maryland Rule 9-207) and the long-form financial statement (Maryland Rule 9-203). These disclosures ensure that all assets are accounted for and help in distinguishing marital property from non-marital property.
Step 1: Identify and Classify All Property
The first step is to identify and list all property that either spouse owns. This inventory includes everything either spouse has at the time of divorce – assets brought into the marriage, assets acquired during the marriage (from earnings, purchases, or gifts), inheritances received by either spouse, and any other property. Each item on the list is then classified as either marital or non-marital (separate) property. As a general rule, any asset acquired during the marriage is considered marital property unless it falls under a specific exception. An asset will remain one spouse’s non-marital property if it is traceable to that spouse’s pre-marriage assets, was received by that spouse alone as an inheritance or a gift from a third party, or is excluded by a valid agreement (such as a prenuptial or postnuptial agreement). If none of these exceptions apply, then property acquired during the marriage is deemed marital property.
Step 2: Determine the Value of Marital Property
The second step is to determine the fair market value of each marital asset. Every item – from real estate and vehicles to furniture, bank accounts, and retirement funds – must be appraised or otherwise valued. Each party, through their attorney, is responsible for presenting evidence of an asset’s value, often by hiring professional appraisers or actuaries and providing financial documents like account statements. The court must make a specific finding on the value of each marital asset; if the court fails to assign a value to a significant item, the decision may be challenged on appeal. Clearly, expert valuations and solid documentation are critical in this stage to ensure accuracy.
Step 3: Distribute the Marital Property Fairly (Marital Award)
The final step is to ensure each spouse receives an equitable share of the marital property. After identifying and valuing the marital assets, the court examines which spouse holds each asset (whose name is on the title). Often, one spouse ends up with more of the assets titled in their name than the other. However, just because a particular asset is titled in one spouse’s name does not mean the other spouse is left with nothing – title does not take the property off the table. To balance the distribution, the spouse with more assets may be required to compensate the other spouse with a cash payment. This payment is known as a marital award (a monetary award ordered by the court), and it ensures both parties walk away with the appropriate amount of property. The goal of this step is to make sure both spouses leave the marriage with a fair portion of the marital estate, regardless of how assets were titled during the marriage.
What is the right amount of property for each Baltimore County Spouse to Walk Away With?
The Court applies a dozen factors to determine who should get what. The Circuit Court for Baltimore County has lots of discretion to divide property in whatever it deems fair. Although there are several variables, principles of equitable distribution require that the spouse will pay the mortgage during the separation and be given credit for those amounts paid for the mortgage payments. However, there is an exception to this, which is an ouster when a spouse is kept off the property by the other spouse.
Call 410-321-4994 To Meet With Towson Divorce, Child Custody & Family Law Lawyer Amar S. Weisman.
Please Call (410) 321-4994 during business hours to schedule a free consultation to decide whether you want to retain Amar S. Weisman. The firm does not accept pro bono clients at this time. To have legal services and advice, you must pay a retainer, See Policy on Fees/Costs. The law firm is located in the heart of Towson near The Circuit Court For Baltimore County, Towson Town Center, Goucher College, and Towson University, at 1018 Dulaney Valley Road (MD-146), Second Floor Towson, MD 21204. We represent clients throughout the Baltimore area, including Aberdeen, Abingdon, Baldwin, Bel Air, Bowleys Quarters, Brooklandville, Carney, Catonsville, Cockeysville, Edgewood, Essex, Garrison, Glen Arm, Greenspring Valley, Homeland, Hunt Valley, Hydes, the Joppa Road Corridor, Kingsville, Long Green, Lutherville, Middle River, Nottingham, Owings Mills, Parkville, Pikesville, Perry Hall, Reisterstown, Riderwood, Rodgers Forge, Rosedale, Ruxton, Sparks, Sparrows Point, Stoneleigh, Timonium, Towson, West Towson, White Hall, White Marsh, and the York Road corridor. We have also represented several out-of-state clients. The law firm does not guarantee the results in any matter.
