A married couple’s financial portfolio is often a fluid and dynamic thing, constantly changing over time. That includes the time between separation and a final divorce judgment. For assets you acquired during the period of separation, the law generally deems them to be marital assets. Still, it may, when it is time for a court to reach equitable distribution and monetary award decisions, treat them differently than assets you acquired pre-separation. If you have questions about equitable distribution and assets acquired during separation, you should speak to a knowledgeable Maryland divorce lawyer.
A recent divorce case from Anne Arundel County provided the Appellate Court with an opportunity to educate readers about how the equitable distribution and monetary award processes work, as well as when a marital asset may not be subject to equitable distribution.
The case involved a couple who divorced after more than 20 years of marriage. Both spouses filed, but the wife filed first. The wife asked for indefinite alimony and a monetary award, among other things.