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

In South Carolina, the division of both marital and non-marital assets during a collaborative divorce is handled differently. Non-marital assets are those that were acquired by either spouse before the marriage or that were gifts or inherited. Marital assets are those that were acquired by either spouse during the marriage. The first step in dividing non-marital assets is determining which assets are non-marital. This is done through the identification and characterization of the assets. This means that the spouses must determine which assets were acquired before the marriage and which were acquired during the marriage. To divide the non-marital assets, the spouses must negotiate an agreement that considers the value of the assets, any liabilities associated with the interest, and the expected tax consequences. The agreement should be written into a settlement agreement or contract which will be signed by both parties. To divide marital assets, South Carolina uses the equitable distribution approach. This means that all assets and liabilities acquired during the marriage will be divided between the spouses in a manner that is deemed fair. The court will consider a variety of factors, such as the length of the marriage, the health of the spouses, the education and income of each spouse, and any economic wrongdoing which has occurred throughout the marriage. The court can also factor in the contributions of each spouse to the marital assets such as financial contributions, labor and services, and property value. The assets are to be divided in a manner that is considered to be equitable and just and the court will usually issue a court order that specifies how the assets are to be divided.

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

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