Although there are two major approaches to dividing property, all fifty states recognize the concept of separate property. In general, this is property that was owned by one spouse prior to the marriage, received as a gift specifically for one spouse, acquired through inheritance, or acquired after the date of separation. Separate property that is mixed with marital property (perhaps by making loan payments with marital funds) may become completely or partially marital property. You will want to do your best to document any assets you may have had prior to the marriage so that you, most likely with the assistance of a lawyer, can determine if they can be categorized as separate. On the other hand, if you expect your spouse to claim property, potentially including a business, as separate property, you will want to gather documentation to show any contributions made to the property during the marriage.
Lee is the founder of Rosen Law Firm and, while retired, still lives on through this website, a huge repository of information to help educate people about family law. It demystifies the divorce process, sharing the secrets and information that other lawyers normally try to keep hidden. Today, this website contains a vast assortment of webinars, legal forms, statutes, Q&As with lawyers, audio and video courses, articles, and lots more.
