Understand How Property Is Divided In A Divorce
Just because your name is tied to an asset or debt does not mean that you own it. In fact, you and your spouse may both have equal rights to property such as a bank account held in your own name.
So how do you know what is yours versus what is your soon-to-be ex-spouse’s?
Defining and dividing marital and separate property as efficiently and carefully as possible is crucial. If it is not done correctly, you could be stripped of property of which you are the legal owner or pay debts that you did not incur. Our lawyers are here to ensure that does not become the story of your divorce.
We Will Assess Your Case To Determine Who Owns The Assets
Marital property is defined as property that was acquired during the course of your marriage — even if your spouse did not utilize the assets. For example, a wife may be entitled to receive money held in her husband’s bank account even if she is not listed as an account holder.
Courts categorize marital versus separate property by evaluating factors such as:
- Who owned the property prior to the marriage, if applicable
- If a spouse inherited the assets and when
- If an asset was a gift from one spouse to the other
- If assets were acquired as a result of a settlement or judgment
In short, assets that are commingled can become marital funds.
We Can Step In And Secure What Is Legally Yours
At Reisinger Booth & Associates in Omaha, we bring extensive experience and deep familiarity with Nebraska family law to the business of separating what will be yours from what will belong to your ex.