Shannon Otto on Separate Property

Posted on March 11, 2014 by

In a divorce, the trial court has the authority to divide the marital property and debts of the parties. As part of this equitable distribution process, the trial court is required to classify, value and ultimately divide the parties’ marital property assets and debts. An asset that is properly classified as one party’s separate property is not divisible in a divorce and will remain the owning spouse’s property after divorce.

Read the full article at Work It, Richmond »

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Shannon Otto on Separate Property

In a divorce, the trial court has the authority to divide the marital property and debts of the parties. As part of this equitable distribution process, the trial court is required to classify, value and ultimately divide the parties’ marital property assets and debts. An asset that is properly classified as one party’s separate property is not divisible in a divorce and will remain the owning spouse’s property after divorce.

Read the full article at Work It, Richmond »