Towson Divorce Lawyer | Marital Property | Equitable Distribution.
Divorce Lawyer Amar S. Weisman Uses Precision, Knowledge and Experience To Advocate For Clients
Amar S. Weisman is recognized by Expertise.Com as one of the Top 22 divorce lawyers in Baltimore and by Law and Practice Magazine as one of the top divorce lawyers in Maryland. Amar S. Weisman has distinguished himself with positive peer reviews and client reviews on Avvo and Google by bringing his prodigious work ethic to every case. When it comes to 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.
The Multi-Dimensional Equitable Distribution of Marital Property Under Maryland Law
The nature of absolute divorce requires attorneys and the Court to facilitate closure on the disposition of all property that was acquired during the marriage regardless of how that property is titled. The Marital Property Act of Maryland provides for the distribution of marital property based on the process of equitable distribution as opposed to simply splitting the property down the middle on a 50-50 basis. The process gives the individual judge great power and discretion to determine who gets how much by applying statutory factors that guide the property analysis. The factors judges are allowed but not necessarily required to consider include the length of the marriage, the monetary and non-monetary contributions to the marriage, the health & age of the parties and the circumstances that caused the breakdown of the marriage. As opposed to providing a formula that is scientific and predictable, equitable distribution is much more of an art that empowers different judges to do different things that can be unpredictable. Amar S. Weisman has guided clients through the three-step equitable distribution process to obtain excellent outcomes for his clients.
Equitable Distribution Requires Attorneys to Account For All Tangible and Personal Property
In order craft the property component of each divorce case, Mr. Weisman communicates with clients and obtains information through discovery to account for the major items of tangible and non-tangible property that are appropriate for adjudication. These include but are not limited to the following: Bank Accounts
- Investment Accounts
- Marital home
- Rental Properties
- Retirement Assets
- Home Furnishings
Maryland Divorce Law Follows a Three-Step Process To Adjudicate Property
Equitable distribution is a three-step process that is partially driven by Joint Statements of Marital and Non-Marital Property filed by the parties pursuant to Rule 9-207 and disclosures by parties on Rule 9-203 long form financial statements. :
- The first step is to identify all of the property that either spouse has whether it came before the marriage or during the marriage, from work or from inheritance; by mysterious appearance or not; every piece of property is listed and then identify this as marital or non-marital. If any piece of property was acquired during the marriage then it is marital unless it can be traced to an inheritance, a gift from a third party or the property is excluded by valid agreement. Absent those exceptions, if a piece of property was acquired during the marriage, it will be deemed marital property.
- The second step is to determine the value of each and every piece of marital property. Every piece of furniture and every retirement asset and every bank account must be valued. The responsibility falls upon the lawyer for each party to present evidence of value. The court has an obligation to determine the value of each piece of property that has identified as marital property or else the trial court finding may be appealed. The importance of appraisers and actuaries and original financial documents cannot be understated when it comes to determining the value of the marital property.
- The third step is to make sure that each spouse gets the appropriate amount of marital property. Invariably, one spouse will have more marital property than the other spouse because of title. Title does not keep property off the table. It is more like the spouse with title to more of the property or rather check to the spouse with less property. This is accomplished through a marital award. A marital award is a cash award that the court orders one spouse to pay to the other spouse to ensure that each of them walks away with the right amount of property.
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 basically divide property in the matter it deems fair. Although, there are a number of variables, principles of equitable distribution require that the spouse will pay the mortgage during the separation be given credit for those amounts paid for the mortgage payments. There is an exception to this, however, which is 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 for the purpose of deciding whether you want to retain Amar S. Weisman. The firm does not accept pro bono clients at this time. To retain 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 a number of out-of-state clients. The law firm does not guarantee the results in any matter.