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Dividing Assets in a Divorce

Augusta Couples Might Fight Over Assets in a Divorce

Marriage is both a romantic ceremony and a legal joining of property. Married couples often share bank accounts, credit cards, insurance, mortgage payments, and other property they purchased together as part of their relationship. If a couple should divorce, money, property, and debt must be divided, and the division can get emotionally overwhelming.

The court will attempt to divide property to either party in a divorce as equitably as possible, but that does not mean that all your personal property is up for grabs. Additionally, if there was fault in the divorce – such as adultery, abandonment, physical abuse, or drug or alcohol abuse – then the spouse seen as the victim may receive more property or financial compensation.

South Carolina Property and Assets During a Divorce

While you may be willing to equally divide car payments and separate your bank account, some items may have a stronger emotional attachment for you. In a divorce, unfortunately, one spouse will get the house, and possibly alimony or child support payments. If there is one car you both share, one of you will receive the car. While a divorce court will attempt to be fair to both parties, you may not be able to keep some belongings that you are attached to.

However, not all of your personal property is up for grabs. If you alone own the house or the car, for example, that will remain yours. If you inherit money, gifts, land, or other assets from a relative, that will remain your property and will not go to your spouse. While your spouse may feel attachment to these items, emotional attachment alone does not signify ownership.

My Spouse and I Have Filed for Divorce, But We’re Fighting About Property

If you share many assets, finances, or debts with your spouse, you may spend lots of time arguing about how best to divide up the property during a divorce. The attorneys at the Strom Law Firm can help. We are eager to schedule you a consultation to discuss your divorce and how best to proceed, so contact us today. 803.252.4800

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