Catherine S. Hendrix, the Managing Partner of Lester & Hendrix, LLC, answers:
What does the court look at when dividing assets in a divorce?
Once we determine whether or not we’re going to file for divorce, we identify the assets that the marriage owns. In South Carolina, if anything was acquired during the marriage that is considered part of the marital pot so to speak – both debts, property, personal and real investment accounts – anything the marriage has acquired over the course of the marriage is determined to be divisible between the two spouses. It’s as if the court looks at the marriage as a partnership that is dissolving. The court’s job is to take everything that came into being in this company and divide it between the two contributing members of this company.
Some of the factors the court looks at are length of marriage, the percentage of contribution between the spouses, and whether one spouse worked and the other was a stay-at-home parent. All of these different factors come into play when the court tries to determine how to equitably distribute the debt and assets of a marriage.
Catherine Hendrix is a partner at the Law Offices of Lester & Hendrix where they are committed to solving divorce and separation issues. Families throughout South Carolina can rely on their team of Attorneys for advice and counsel. Visit their profile and website www.lesterandhendrix.com.