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Charleston Asset Division Attorney

If you are facing a divorce, a primary concern is undoubtedly your financial future, and an important element of this is the term asset division. In South Carolina, the assets you, your spouse, or you and your spouse together acquire during your marriage are considered marital, and upon divorce, you’ll need to establish an equitable – or fair – division. If you are facing challenges related to asset division or have concerns about protecting your financial rights in divorce, don’t wait to consult with an experienced Charleston divorce attorney.

An Equitable Division

Regardless of who made the purchase or whose name is on the deed or title, everything that you and your spouse came to own while you were married is categorized as marital property that must be distributed between you equitably in the event of divorce. Equitable here means fair given the relevant circumstances involved, and while this can mean splitting everything right down the middle, it doesn’t necessarily.

Exceptions to the Rule

There are very few exceptions when it comes to what is characterized as a marital asset and what is not in South Carolina. To begin, anything that you or your spouse owned before you were married and that you kept separate – or unentangled – from your marital assets while you were married will remain the property of the original owner.

There are a range of factors, however, that can weaken the distinction between marital and separate property. Further, any increase in the separate property’s value over the course of the marriage is likely to be classified as marital.

Otherwise, the only exceptions include the following:

  • Any gifts that either of you alone received
  • Any inheritances that either of you alone received
  • The pain and suffering component of any personal injury claim either of you filed and settled during your marriage

Resolving Property Division between Yourselves

Most divorcing couples consider it preferable to resolve the term of asset division between themselves – which means maintaining decision-making authority on this critical matter rather than turning to the court. If hammering out mutually acceptable terms between yourselves is out of the question, you’re not alone, and you have options. Your respective divorce attorneys can engage in skilled negotiations on behalf of each of your best interests – helping to find that elusive middle ground you’re looking for.

Mediation is another option that involves you and your divorce attorney and your soon-to-be ex and their attorney working with a professional mediator in their role as a neutral third party as you explore compromises you may not have considered prior. 

You Need an Experienced Charleston Divorce Attorney on Your Side

The focused Charleston divorce attorneys at Query Sautter & Associates have a wealth of experience successfully protecting the financial rights of our divorcing clients, and we look forward to working with you. Your case is important to your financial future, so please don’t wait to reach out and contact us online or call 843-795-9500 for more information about what we can do for you today.