Assets and liabilities acquired or incurred during the course of the
marriage are considered to be marital and may be subject to distribution
by agreement of the parties or order of the Court. Assets subject
to distribution upon divorce include, but are not limited to, the
marital home, real estate, vehicles, savings accounts, stocks, retirement
accounts and other investments. Examples of marital liabilities subject
to distribution include, but are not limited to, credit card debt,
home mortgages, and loans taken against retirement investments. By
agreement of the parties, or by order of the Court, these assets and
liabilities shall be distributed to the appropriate spouse and will
be included in the Marital Settlement Agreement or Final Order of
the Court. Some assets or liabilities brought to the marriage may
be considered pre-marital and not subject to distribution in the divorce.
Similarly, some assets acquired or liabilities incurred following
separation of the parties, but before divorce is final, may be considered
post-marital and excluded from the divorce proceeding.
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