Should Out of State Property Be Included in a Divorce Property Settlement?
Full Question:
Answer:
Yes, a marital property settlement should deal with all of the assets of the couple acquired during the marriage, regardless of the location of the property. South Carolina is an equitable distribution state in which the court, if the parties have not entered into a settlement agreement, will divide the marital property equitably between the parties, taking into consideration many factors such as; the contribution of each spouse to the acquisition, care, and maintenance of the marital property, the length of the marriage, etc. This means that the court will divide the marital property between the parties as it deems equitable and just, after setting aside to each spouse the separate property of each. Some of the factors the court considers in dividing the property between the parties include:
1. The duration of the marriage.
2. The age of the spouses.
3. Marital misconduct.
4. Economic misconduct.
5. The value of each party’s marital property.
6. The contribution of each spouse to the marital estate.
7. The income of each spouse.
