Protecting Your Right To The Marital Property
One of the key aspects of any divorce is the division of marital property. The outcome of property division proceedings will play a large role in your post-divorce financial future. With a skilled divorce lawyer protecting your rights, you can claim your fair share of wealth and assets accumulated during the marriage while not taking on more than your fair share of debt.
At The Law Office of Shauna T. Hagan, LLC, in Wilmington, we handle complex property division issues for clients in New Castle County and throughout Delaware. We are here to guide you through the divorce process and on to a financially healthy post-divorce future.
What Gets Divided In Divorce?
Nearly all property acquired during the course of a marriage is considered marital property and subject to division upon divorce. Under Delaware’s equitable distribution laws, marital property is to be divided in a fair and equitable manner. This does not necessarily amount to a 50-50 split.
Items subject to division include:
- The family home
- Other real estate
- Bank accounts
- 401(k)s, IRAs, pensions and other retirement accounts
- Furniture, jewelry and other personal property
Divorce attorney Shauna T. Hagan is a skilled litigator who knows how to negotiate from a position of strength. She will draw upon her in-depth knowledge of Delaware’s equitable distribution laws to negotiate a settlement that protects your long-term financial interests. In the event the other party refuses to accept a reasonable offer, Ms. Hagan is always prepared for aggressive litigation.
Frequently Asked Questions About Property Division
Clients facing property division proceedings often have numerous questions about the process and their rights under Delaware law. Here are answers to some questions we frequently get from our clients.
How does the court handle debts acquired during the marriage?
Delaware courts treat marital debts similarly to marital assets when applying equitable distribution principles. Debts incurred during the marriage are typically considered marital obligations that must be divided fairly between both spouses, regardless of which spouse’s name appears on the account.
The court examines factors including each spouse’s income, the debt’s purpose and whether it benefited the marital household. Credit card debt for family expenses and mortgage obligations generally qualify as marital debts, while debts for individual benefits like gambling may be assigned solely to the responsible spouse.
What steps can be taken if I believe my spouse is concealing assets during our divorce?
Asset concealment represents a serious concern in divorce proceedings that can significantly impact property division outcomes. Delaware law provides several legal remedies to uncover hidden assets and protect your financial interests during divorce.
Discovery procedures allow your attorney to request financial documents, bank statements, tax returns and business records that may reveal undisclosed assets. Depositions can compel your spouse to testify under oath about their financial holdings, while subpoenas can obtain records directly from financial institutions and employers.
Forensic accounting professionals can analyze financial records to identify suspicious transactions, unexplained cash withdrawals, or transfers to family members or business associates. The court has authority to impose severe penalties on spouses who attempt to hide assets, including awarding the concealed property entirely to the innocent spouse.
Can I appeal a property division decision in Delaware if I am not satisfied with the outcome?
Delaware law permits appeals of family court property division decisions under specific circumstances. However, appellate courts typically review these decisions under a limited standard that gives significant deference to the trial court’s findings.
Appeals must be filed within 30 days of the final order and generally succeed only when the trial court made clear errors of law or abused its discretion in applying equitable distribution principles. Successful appeals often involve situations where the court failed to consider required statutory factors or made mathematical errors in asset valuation.
Speak With An Experienced Divorce Lawyer Today
To learn more about how we can protect your rights and interests regarding marital asset division in Delaware, contact our law office online or by telephone at (302) 321-6489.