How is a divorce settlement divided?

In Maryland, the decision of how to divide a marital estate in a divorce settlement is based on a concept called “equitable distribution.” This means that the court looks at the marital assets, such as property, vehicles, finances, and other belongings, and distributes them based on what is considered to be fair and equitable. The court will consider a variety of factors when deciding how to divide the assets, including the length of the marriage, the financial resources of each spouse, their current financial liabilities, economic circumstances, contributions each spouse made to the marriage, and whether either spouse made any special contributions, such as if one spouse put the other through school. In some cases, the court may also consider the age of the parties, tax consequences of granting the divorce, and whether any of the assets are non-marital, meaning they were owned by one spouse prior to the marriage. The court has wide discretion in deciding how to distribute the marital estate. While the court may decide to divide the assets equally, it is also possible that the court will choose to distribute the assets in such a way that takes into account the circumstances of each spouse. It is important to note that the court will not compensate a spouse for things like pain and suffering, as these types of awards are generally not allowed in a divorce settlement.

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How is a divorce settlement divided?

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