Family Law
Division of Marital Property in South Carolina
HELPING YOU RETAIN WHAT IS RIGHTFULLY YOURS
Dividing marital property in a fair and mutually accepted manner is often one of the most difficult aspects of divorce. Emotions tend to run high, making it tough to accurately split assets, as well as debts. In this situation, it can be helpful to consult an experienced family law attorney in SC who can help you understand marital property laws in South Carolina and research and assign accurate value to all shared property.
At the law firm of Harvey & Battey, P.A., in Beaufort, South Carolina, our trusted lawyers have been helping divorcing clients protect what belongs to them since 1922. With comprehensive analysis and decades of experience, our attorneys have the knowledge and skill to handle even the most complex property division issues.
DETERMINING MARITAL PROPERTY
Assets acquired during the marriage may be considered marital property. Property owned before the marriage or obtained through inheritance during the marriage is generally considered exempt. In the midst of divorce, disputes frequently arise regarding what is marital property and what is not.
Our attorneys will classify and value all marital property and debt in accordance with the equitable distribution of property rule, taking into account fault for the divorce and the earning potential of both parties. Our lawyers can assist you with all types of property division issues involving:
- Real estate
- Vehicles
- Recreational vehicles
- Bank accounts
- Retirement accounts
- Pensions
- Businesses
- Jewelry
Our family law attorneys will work hard to protect what is rightfully yours. When appropriate, we will consult with experts, such as tax specialists, to help look out for your bottom line. For example, we will ensure only money added to your retirement account during the marriage is subject to division. Our goal is to safeguard your financial health, helping you move on to the next chapter of your life with financial confidence.
Contact us to schedule your initial consultation so we can learn more about your specific circumstances and help you get a fair and equitable division of marital property outcome.
COMMON DIVISION OF MARITAL PROPERTY QUESTIONS
Q: How is marital property divided in South Carolina?
A: South Carolina is an equitable division state. This means that the Family Court Judge will hear evidence from both spouses and then will determine what they believe is a fair and equitable division of marital property. A number of factors are considered by the Judge when making the decision. One key thing to keep in mind is that so long as the property was purchased during the marriage, and that marital funds were used, at least in part, to purchase the property, it does not matter whose name property is titled in South Carolina for it to be divided equitably.
Q: Is a house bought before marriage considered marital property in South Carolina?
A: If you own property in your own name prior to marriage, under South Carolina law it is considered separate property not subject to division as long as you have kept it separate. However, there are exceptions to this rule, which is why it is recommended to consult with our experienced family law attorneys who can help you better understand the specifics of your case.
Q: Is a spouse entitled to a 401k in divorce in South Carolina?
A: If a retirement account is deemed a marital asset, the court will decide if they should divide the account between the two spouses or award the entire account to one spouse if they deem it fair and equitable. The retirement accounts’ valuation is considered when deciding what is equitable.
Q: How is debt divided in a divorce in South Carolina?
A: Marital debt is subject to equitable distribution in South Carolina, meaning any debts acquired during the marriage will be divided fairly and reasonably between both parties. This ensures an equitable outcome and doesn’t necessarily mean 50-50. An experienced attorney can provide their guidance and assistance in handling division of marital property issues with you.
Dedicated to Protecting Your Interests
Our attorneys welcome the opportunity to speak with you about your property division concerns. For more information or to discuss your case with a lawyer at Harvey & Battey, call (843) 524-3109 or click the button below to contact us online.