How is property divided in a divorce?

When couples divorcing in Maryland divide their property, the court uses a system known as equitable distribution. This means that each of the spouses will receive a fair portion of the property regardless of whose name it is in. The court will review all the property that the couple owns and divide it fairly, though the law allows for the court to take into consideration a variety of factors, such as the length of the marriage, each party’s financial needs, and any prior agreements between the parties. When looking at the assets, the court will assess what each spouse contributed to the marital property, including income, property, or services. Property owned by either spouse before the marriage is exempt, as is any inheritance received by one spouse. The court will also consider the debts of the couple when dividing property. Any debts accrued by either spouse during the marriage will be divided equally, while any debts incurred prior to the marriage remain the sole responsibility of the person who acquired them. In some cases, the court may decide to award one spouse a larger portion of the marital property in order to equalize the financial arrangements. This could include awarding one or both spouses alimony, or spousal support. In the end, the goal of equitable distribution is to ensure fairness between both parties and create an amicable agreement that will keep both spouses in a healthy financial situation after the divorce.

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