If you are facing divorce and about to be on your own, you are naturally concerned about how your assets and liabilities will be divided.
Generally, marital property is considered to be assets and debts acquired during the marriage. Non-marital property is property acquired before the marriage. An exception would be an inheritance received during the marriage; it is not part of the asset division.
Assets include:
· Bank accounts
· Investments
· Real estate
· Automobiles
· Furniture
· Pensions
· A business
Once the court determines the division of assets and liabilities, the order is permanent and cannot be modified. If you are looking at divorce, contact an experienced Orange County Divorce attorney when it comes to the division of assets, property and debts and any other family issues that comes about.
