Category: Personal Property
Helpful Tips and Facts
What is Property in a Divorce?
Although the laws vary from state to state, property is usually divided into just two categories: separate property and marital property. In general, separate property includes what a person: (a) brings into the marriage, (b) inherits during the marriage, and (c) receives as a gift during the marriage. On the other hand, marital property is everything acquired during the marriage no matter whose name itís in. In some (but not all) states, marital property also includes the increase in value of separate property.
Photos and Albums
Donít forget about the family photos. Everyone will want at least some. If you have the negatives, use joint funds to make copies. If you donít have the negatives anymore and both of you want the same photos, use joint funds to make copies. If you have children, they are the ones who will get these precious mementos. DO NOT tear the other parent out of the photos. It is not fair to the children who will want the photos intact when they grow up!