Columbia Property Division Lawyer

Columbia Property Division Attorney

Property division cases are often the most complicated aspects of family law cases. Your Columbia property division lawyer can provide advice regarding how South Carolina divides assets and debts between spouses. This may include dividing ownership of a marital home, retirement accounts, businesses, and other high-value assets. Understanding how property cases are evaluated can help you prepare for what to expect during your own case.

About the Law Office of Charles T. Brooks III

At the Law Office of Charles T. Brooks III, we have proudly represented people and families across Columbia, Sumter, Camden, Orangeburg, and Florence since 1996. As an experienced personal injury lawyer, we have built a strong reputation helping clients recover compensation after accidents, while also maintaining a solid track record navigating Columbia family law and the Richland County Family Court’s processes. Regardless of the circumstances your family is facing, we are here to help.

Understanding Property Division Cases in South Carolina

South Carolina has a marriage rate of 6.2 per 1,000 population and a divorce rate of 2.2 per 1,000. In divorces, many times, property needs to be divided in accordance with the local laws. Property division cases involve dividing up marital assets and debts between spouses during a divorce. South Carolina follows equitable distribution laws when dividing property between spouses.

Equitable distribution aims to divide marital property fairly, but not always equally. When applied to property distribution cases, fair doesn’t necessarily mean spouses will each receive 50% of the marital estate.

Instead, family law courts look at a number of factors to determine what is equitable. Factors like each partner’s monetary input and other contributions, like managing the household, are considered. Courts may also consider each spouse’s financial needs going forward.

What Counts as Marital Property?

Not everything a spouse owns will be divided during divorce. When dividing assets, it is important to understand what qualifies as marital property. In South Carolina, marital property refers to all property acquired by either spouse during the marriage. Essentially, this means all property obtained during marriage is presumed marital regardless of who holds title.

Marital property can include wages earned by either spouse, real estate, vehicles, retirement accounts, and businesses acquired during marriage. For example, if a spouse purchases a car during marriage, that vehicle is marital property even if the title is in your spouse’s name only.

Separate property refers to any asset owned before marriage. It can also include property that you gift to or inherit from someone else. In some cases, separate property can become marital property based on how it is used during marriage. Common property division disputes deal with these matters.

How Property Is Divided in South Carolina

In Columbia, South Carolina, courts divide marital assets using equitable distribution laws. In practice, this means courts look at each spouse’s overall financial situation. Courts analyze every asset and debt you have when deciding how to divide property.

Contributions to the marriage, both financial and non-financial, are a big factor in how property is distributed. If you stay at home to care for children or manage the household while your spouse works, the court will consider this when deciding who gets what property.

Future financial needs are another consideration. This can mean that one spouse may be entitled to more of the marital estate if they require financial support after divorce.

Determining the division of assets is not an exact science. Because equitable distribution is subjective and based on many factors, it is difficult to predict how a court will rule in any given case.

Common Issues in Property Division Cases

When divorcing spouses are unable to agree on who gets what property, the court will have to intervene. This can happen when spouses own significant assets or debts. Issues commonly seen in property division disputes include:

• Identifying marital vs. separate property
• Division of marital home or real estate
• Retirement accounts and pensions
• Debts and financial liabilities
• Businesses or professional practices

It is important to note that business ownership is one of the more common complex issues in property division cases. Business owners may face unique challenges when dividing professional practices.

FAQs About Property Division Law

How Is Property Divided in a Divorce in South Carolina?

In South Carolina, marital property is divided according to the equitable distribution principle. Equitable distribution dictates the fair, but not necessarily equal, division of both assets and debts accumulated during the marriage. When dividing property in a South Carolina divorce, judges consider many factors, including length of marriage, contributions by each party, income, and future financial circumstances.

Is My Wife Entitled to Half My 401(k) in a Divorce?

Your spouse doesn’t automatically get half of your 401(k). However, any money put into the 401(k) during the marriage is usually marital property. That money can be divided through equitable distribution. The amount of money your spouse will receive depends on various factors. Some include the length of marriage and each spouse’s financial circumstances. It won’t necessarily be an equal 50/50 split.

What Assets Are Untouchable During Divorce?

These assets can include property owned before marriage. Inheritances and gifts can also be separate property and may not be divided. Gifts and inheritances given to one spouse only are typically considered separate property. However, they can be divided in some cases if commingled with marital property or used for the benefit of the marriage.

Can Debts Be Divided in a Divorce?

Yes, debt incurred during the marriage is considered marital and can potentially be divided between spouses. This includes mortgages, credit card debt, and loans. The court will consider who incurred the debt, the purpose of the debt, and each spouse’s ability to repay the debt when allocating the debt equitably.

Hire a Property Division Lawyer

In some cases, it may be necessary to hire a property division lawyer to protect your interests. If you and your spouse are disputing ownership of certain assets, you may benefit from working with a Columbia property division attorney.

Complex assets like businesses usually require thorough review and documentation. If you are going through a divorce, a property division lawyer at the Law Office of Charles T. Brooks III can help. We understand property division laws and can help you understand how they relate to your case. Contact us today for more information.