Maryland : Equitable Distribution Vs. Community Property
WHAT DO YOU NEED TO KNOW? BE SMART - UNDERSTAND THE LAW
By: Stuart H. Grozbean
Our family law section is headed by STUART H. GROZBEAN. Mr. Grozbean was named to "Who's Who" in 1998, 1999, 2000. He is now a life member of "Who's Who", a prestigious national recognition of outstanding professionals in the United States. He is also the developer of the child support guidelines program in Maryland. His program is widely used by Judges, Masters and Lawyers in Maryland.
Mr. Grozbean has been quoted in the Washington Post, USA Today and on the various television and news channels.
MARYLAND IS AN “EQUITABLE DISTRIBUTION STATE"
What is, in plain English, the difference between a community property state and an equitable distribution state. In a community property state the property is generally split 50/50. However, Maryland follows equitable distribution rules which means the Court does not have to divide everything equally.
Here is what the Court looks at:
(1) First they identify and determine what is the marital property
2) Next the determine the value of marital property
(3) Finally, they decide whether or not to grant a monetary award and/or divide the marital pension assets as an adjustment of the equities and rights of the parties.
However, as a generally rule the Court generally will divide fairly equally marital property.
BE SMART-UNDERSTAND THE LAW
REAL LAWYERS-FOR REAL PEOPLE-WITH REAL PROBLEMS
|© Belli, Weil & Grozbean, P.C. All Rights Reserved.