Divorce and Division of Property

8/23/2017 - Beaufort, South Carolina

If you are considering divorce, you should carefully consider hiring a lawyer to help you fight for your fair share of the marital assets.

In South Carolina, the division of marital assets is governed by state statute, specifically, South Carolina Code Annotated § 20-3-620. This law provides a list of 15 factors the judge must consider in deciding how to divide the assets and the debts between the divorcing couple.

These factors include:

(1) the duration of the marriage and the age of the parties;

(2) marital misconduct or fault;

(3) the value of the marital property;

(4) the income of each spouse, the earning potential of each spouse, and the opportunity for future acquisition of capital assets;

(5) the health, both physical and emotional, of each spouse;

(6) the need of each spouse or either spouse for additional training or education;

(7) the nonmarital property of each spouse;

(8) any vested retirement benefits of either spouse;

(9) whether separate maintenance or alimony has been awarded;

(10) the desirability of awarding the family home as part of equitable distribution or the right to live therein for reasonable periods to the spouse having custody of any children;

(11) the tax consequences to the parties;

(12) the existence and extent of any support obligations;

(13) liens and any other encumbrances upon the marital property;

(14) child custody arrangements and obligations at the time of the entry of the order; and

(15) such other relevant factors as the trial court shall expressly enumerate in its order.

 

Do not hesitate to schedule a consultation with Sam Scoville if you think he can help you with your divorce or other family law matter.