Mount Pleasant Family Lawyers Assist Clients with Division of Property
Capable divorce representation to secure your financial future
If you are anticipating a divorce, you no doubt have concerns about what will become of your property. South Carolina law calls for equitable distribution of marital property, which means the couple’s assets and debts are divided fairly but not necessarily equally. To protect your rightful share, you need skillful legal representation. For more than 20 years, Barker Family Law has advocated for our clients’ property rights in divorce. We negotiate property settlements whenever possible, but if a trial is necessary, we bring to the court’s attention all facts and circumstances that weigh in your favor.
How equitable distribution works in South Carolina
In South Carolina, only marital property — namely, assets and debts acquired during the marriage — is subject to equitable distribution. Spouses get to keep separate property, which generally includes:
- Assets and debt acquired before the marriage or after divorce proceedings begin
- Growth in value of separate property
- Property acquired in exchange for separate property and maintained separately
- Nonmarital gifts and inheritances received during the marriage
- Assets and debt declared separate in a prenuptial or postnuptial agreement
It’s important to know that separate property can become marital through commingling — that is, if the owner does not keep it separate and apart from marital property. Disputes often arise over the source of property and whether it belongs to the separate or marital category.
Each item of marital property must be assigned a value. This includes valuation of hard-to-assess items, such as:
- Ongoing businesses
- Intellectual Property
- Fine art
- Real estate
- Jewelry
- Luxury motor vehicles
Once all marital property has been inventoried and valued, it must be divided between the spouses. South Carolina law requires the court to consider numerous factors related to the accumulation and preservation of wealth, as well as any wasteful dissipation of assets. Your divorce attorney will alert the court to any facts that entitle you to a greater share of marital property.
The problem of hidden assets in property division
Not every divorcing spouse is fully transparent about property in their possession or control. In anticipation of divorce, some spouses attempt to hide assets in secret accounts or in other countries. Some spouses might try to put property outside their spouse’s reach through fraudulent transfers. When we suspect a party is hiding assets, our team uses forensic accountants to locate them and gather evidence. We can petition the court to set aside fraudulent transfers and force return of assets.
If fraud goes undiscovered during the divorce but later comes to light, the cheated spouse can petition the court to modify the property division order. The court can invalidate any order or settlement that is the result of misrepresentation or fraud.
Contact our Mount Pleasant divorce lawyers to protect your property rights
Barker Family Law represents divorce clients in property disputes throughout the greater Charleston area. Call us at 843-938-5957 or contact us online to schedule a consultation.
