Delaware Property Division Attorneys

Helping Clients Receive a Fair Property Settlement

If you are going through divorce litigation, you may be concerned about the legal complexities accompanying marital property division. Generally, marital property is considered any assets and debts acquired during the marriage.

Contact the attorneys of Abram, Gulab & Hutchison immediately to schedule a, confidential consultation to learn more about how we can help you obtain a fair property settlement agreement that will adequately provide for your needs.

What is Considered Marital Property?

Some common examples of marital property include:

• The home and other property acquired during the marriage
• Personal property, including furniture, artwork, or jewelry
• Bank accounts
• Insurance policies
• Stock options
• Retirement accounts and pensions

Exceptions to marital property include assets given as gifts or acquired through inheritance or an increase in the value of separate property one spouse owned before the marriage.

How is Property Division Determined in Delaware?

In the Delaware family court, property division during the dissolution of a marriage is determined under the principle of equitable distribution. This approach ensures a fair, though not necessarily equal, division of marital property between the spouses. The court begins by distinguishing between marital and non-marital property. Marital property includes assets and debts acquired during the marriage. In contrast, non-marital property encompasses assets owned before the marriage and gifts and inheritances given to one spouse individually.

The court considers several factors to arrive at an equitable distribution. These may include the length of the marriage, the age, health, and employability of both parties and the contributions of each spouse, both economic and non-economic, to the marriage. Specifically, the court examines each spouse’s income, earning potential, and financial responsibilities. The court also considers the contributions of a homemaker or the partner who supported the other’s career through domestic labor.

Additionally, the court considers the standard of living established during the marriage and the need for each party to maintain a similar lifestyle post-divorce. Evidence of marital misconduct or fault, such as infidelity or financial irresponsibility, may also be relevant in some cases but is not typically the primary determinant.

Any existing agreements between the spouses, such as prenuptial or postnuptial agreements, are closely scrutinized and typically honored, provided they meet legal standards. Lastly, the court might consider the tax implications of the division and any potential future financial needs of the parties. All these factors collectively guide the court in achieving an equitable resolution that reflects the unique circumstances of the divorcing couple in Delaware.

Some of the several factors and circumstances that a judge will review when trying to determine how to divide marital property include:

• Financial and non-financial contributions made by each spouse
• Each spouse’s age, health, and education level
• The standard of living the couple enjoyed during the marriage
• Needs of the custodial parent
• Income and earning ability
• The value of marital assets being divided
• Value of separate property
• Any wasteful spending on the part of either spouse

What is Delaware’s Equitable Division of Property Law?

Delaware is an equitable distribution state when it comes to marital property. However, the term “equitable distribution’ can be deceiving as it does not mean all property will be divided equally. Instead, a court will review many factors, including the length of the marriage, to decide what it feels is a fair division of property.

However, a couple can decide how to divide marital assets independently, or if they have a prenuptial agreement. In that case, the court will usually honor their property division agreement as long as it is fair to both parties.

What Makes Your Property Division Lawyer the Best Choice to Help Me Obtain a Fair Settlement?

Abram, Gulab & Hutchison is a Delaware law firm with a proven record of helping clients win fair settlements when dividing a marital estate.

For example, you may suspect that your spouse is hiding assets to avoid subjecting them to property division laws. In that case, we have the financial resources to hire forensic accountants and other experts to protect your rights.

If you and your soon-to-be former spouse cannot reach a mutual decision about property acquired during your marriage, you must hire a Delaware property division attorney who will fight to help you receive a settlement that will adequately provide for your current and future needs. Contact our law firm at 302-405-7010 to schedule a consultation.