Maryland is an equitable division state. The Maryland Court:
- Determines what property constitutes marital property.
- Determines the value of the marital property.
- Determines the equitable distribution of the marital property.
- Grants a monetary award, if necessary, to effectuate the equitable division of the marital property.
When considering the distribution of Marital Property in Maryland, the court considers the following factors:
- Monetary and Non-monetary Contributions;
- Value of the Property and the Economic Circumstances;
- Circumstances Contributing to Estrangement;
- Age and Physical and Mental Condition of the Parties;
- How and When Specific Marital Property was Obtained, Including Contribution by Either Party in Tenants by the Entireties Real Estate;
- Award of Alimony;
- Other Factors, including Potential Tax Consequences
The Factors The Maryland Courts Must Use To Determine Monetary Award:
- The contributions, monetary and nonmonetary, of each party to the well-being of the family.
- The value of all property interests of each party.
- The economic circumstances of each party at the time the award is to be made.
- The circumstances that contributed to the estrangement of the parties.
- The duration of the marriage.
- The age of each party.
- The physical and mental condition of each party.
- How and when specific marital property or interest in the pension, retirement, profit sharing, or deferred compensation plan, was acquired, including the effort expended by each party in accumulating the marital property or the interest in the pension, retirement, profit sharing, or deferred compensation plan, or both.
- The contribution by either party of the acquisition of real property held by the parties as tenants by the entirety.
- Any award of alimony and any award or other provision that the court has made with respect to family use personal property or the family home.
- Any other factor that the court considers necessary or appropriate to consider in order to arrive at a fair and equitable monetary award or transfer of an interest in the pension, retirement, profit sharing, or deferred compensation plan, or both.
Posted in: Family Law