Some types of property, such as Separate Property acquired either before or during the marriage may be exempt from inclusion in a couple’s total assets. Separate Property includes anything owned by one spouse, usually by way of a written agreement (such as a premarital agreement or marital contract), that designates that property remain the property of only the spouse who owned it before marriage or received it during the marriage.
Separate Property must also be maintained and funded through resources other than regular marital assets and income. As a result of these significant limitations, this property is protected against being divided in a divorce, but also has strict requirements to remain in this category.
Regardless of your specific situation, the family law division at PMK, led by Senior Associate Seth Harris, is available to guide you through a seamless division of property.