How do I divide non-marital and marital assets in a collaborative divorce?

In a collaborative divorce in Delaware, both parties will have to divide both marital and non-marital assets. In order to do this fairly, each party must disclose all assets and liabilities, both marital and non-marital. Marital assets are those that have been acquired during the course of the marriage. These include, but are not limited to, gifts or inheritances received by either spouse during the marriage, any real estate or vehicles purchased during the marriage, and any debt accrued during the marriage. Non-marital assets are those that were acquired before the marriage, or were gifted or inherited during the marriage and kept separate from marital assets. Examples of non-marital assets may include a house owned before the marriage, any vehicles owned prior to the marriage, and any savings or investments owned prior to the marriage. When dividing up assets and liabilities, both parties should consult a Delaware family law attorney to ensure that any division made is fair. The court may also order the division of marital assets through equitable distribution, meaning that both parties will get a fair share. Finally, both parties should consider any tax implications that come with dividing up the assets and liabilities. This includes any capital gains taxes that may be owed, or other taxes that may arise from dividing up the assets. This can be a complex area, so it is important to consult with a tax professional before finalizing any division of assets.

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How do I divide non-marital and marital assets in a collaborative divorce?

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