Manning Property Division Lawyer

Manning Property Division Attorney

The division of property during divorce proceedings can be a complex and difficult process. Divorce is often accompanied by emotional turmoil, and the division of property can be a trying experience. At Kinney Law Firm, a talented Manning property division lawyer can navigate your property division with informed counsel.

Over the last few decades, divorce rates in South Carolina have been increasing. Many spouses find themselves unsure of how to proceed with issues relating to property and its equitable division. While regulations regarding property division in a divorce may seem overwhelming, Kinney Law Firm has been serving the people of South Carolina for years. We can work with you to make sure your interests are represented.

Equitable Distribution in South Carolina

South Carolina follows what is known as “equitable distribution” when dividing property during a divorce. This approach seeks to equitably divide “marital property” between a divorcing couple. Marital property, in this sense, refers to assets accumulated during the life of a marriage. This includes:

• Real estate
• Personal property
• Investments
• Retirement funds
• Business interests
• Debts

Under equitable distribution, marital property is not simply divided evenly between spouses, as in some states. Property division in Manning is directed by the Clarendon County Family Court to ensure the fairest and most equitable distribution of assets following divorce.

Some items do not count as marital property. Examples of assets considered exempt from equitable distribution include:

• Most assets acquired before a marriage
• Anything specified as non-marital property in prenuptial agreements
• Inheritance or gifts given explicitly to one spouse

Considerations of the Court During Equitable Distribution

Within the lifetime of a marriage, the division of shared and individual property can often become blurred. Because of this, the court must consider several factors when determining which property must be divided and how, such as:

• Timing. In general, property acquired before a marriage is considered non-marital property. Therefore, it is exempt from division. While this may change in certain cases, it is an important marker that the court considers.
• Source of money for purchases. There is a difference between items bought with marital funds and those purchased by a single spouse. This can determine whether it is considered marital property and, therefore, who it goes to in a divorce.
• Transmutation. Occasionally, even if an asset is bought as non-marital property, it can be shown that there was an intention to treat it as shared property in the marriage. When this happens, it may affect its distribution during divorce. Such property often comes in the form of real estate, like houses or other assets, where a spouse’s name has been added as part co-owner.
• Comingled assets. Non-marital property brought into a marriage can become marital property in certain cases. This includes joint accounts, real estate, or other properties that were bought by one spouse and improved upon by another.

The Benefits of a Property Division Agreement

One way to avoid court division is to create a property division agreement. This is a legally binding contract between couples regarding how assets, debts, liabilities, and other kinds of property will be divided in divorce proceedings. This can simplify divorce procedures and prevent long disputes. Part of your divorce involves dividing your property and debts. Property is anything you can buy or sell or has value. For example, a house, car, or furniture. It’s also things like a bank account, pension, 401k, or stocks.

Property division agreements should include a complete list of assets, addressing anything that might be considered marital property. It is important that the items listed include agreed-upon values, the decided owner, and any attendant purchase evidence. Once signed, a property division agreement can be submitted to a family court judge for approval.

It is advisable to have a skilled attorney involved in this process. An experienced lawyer can make sure that the listed assets are done so properly. They can also make sure the agreement meets the necessary legal standards to be submitted to the court. Additionally, an attorney can provide an objective and unemotional viewpoint. This can prevent unnecessary acrimony and keep discussions focused on reaching a mutually beneficial agreement.

FAQs

Q: What Is a Property Division Agreement for Divorce?

A: A property division agreement is an agreement between two spouses on how property will be divided during divorce proceedings. The list includes different forms of assets, such as real estate, bank accounts, businesses, vehicles, and other forms of property. Once accepted by a judge, this document can enable the couple to bypass the court distribution of marital property and ease some of the stresses accompanying the divorce process.

Q: Are Property Lawyers Needed for Property Division?

A: An attorney who focuses on property law is often referred to as a “real estate attorney.” They provide legal advice for all aspects of real estate transactions. These lawyers ensure the lawful history of ownership of real estate so it withstands legal scrutiny. They are not often involved in divorce cases, as experienced divorce lawyers can fully address property division disputes.

Q: What Type of Lawyer Is Ideal for Divorce?

A: There are several ideal characteristics a divorce lawyer should have. Two important ones are experience and communication. An attorney should be familiar with the regulations and procedures accompanying divorce in their state. They must also be good communicators, letting their clients know their available options and providing counsel that defends their clients’ interests.

Q: Is It Free to Talk to a Divorce Lawyer?

A: In South Carolina, some divorce lawyers offer free consultations, while others do not. This depends wholly on the attorney and their practices regarding consultations. It is important to remember that divorce can be a complex process, and an effective attorney will often charge for a consultation to give the strongest possible advice and provide a strategy for their client.

Contact an Experienced Manning Asset Division Law Firm

In 2024, a federal study found that over 40% of marriages end in divorce. While divorce can be a difficult process, the informed counsel of an attorney can ease the burden that comes with certain aspects of it. At Kinney Law Firm, our Manning property division lawyer can make sure your interests are represented when dividing your marital property.

We have a strong record of success and an established history of assisting the community of Manning. Contact us today to find out more.