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Division of Assets

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Equitable Division Of Assets In South Carolina Divorce Cases

One of the many issues involved in a divorce in
South Carolina is the division of property.

It is almost never the case where both spouses can come to an agreement on their own. Therefore, this issue may be resolved in Mediation. However, each party should understand specifically what “Equitable Division” of property in South Carolina Family Courts involves. Family Courts in South Carolina divide property, do not provide an automatic 50/50 split of marital assets and debt. Instead, the Courts will divide the marital property, according to the Court’s opinion of who will need the major portion of the property most, and who will not. It is the Court’s position that the division of assets should be “fair and equitable” under the particular circumstances of the marriage.
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What property is actually divided in Family Courts in South Carolina?
The property that is actually divided in Family Courts in South Carolina is “marital property.” At first glance, one may thing that means all property the couple owns at the time of the divorce. Well not exactly. Property that the parties have accumulated during the marriage is “marital property.” What is not marital property is property that each party owned prior to the marriage as long as it has not been commingled into the marriage, meaning perhaps the parties have used that property for collateral to borrow money and both co-sign to repay the loan. The same is true for property one party or the other inherits during the marriage. That property is not “marital property’ as long as it is not commingled. Another example of commingling non-marital property into marital property might be that the party owning the property before the marriage or inheriting it during the marriage sells the property, and the couple buys new property to enjoy together during the marriage. That property may have lost its independent label as non-marital and may have now become “marital property” to be divided by the Courts.
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Why doesn’t the Court simply divide the marital property 50/50?

The answer to that questions depends on the specific circumstances of the divorce. For example, if one party retains the home and custody of the children, that party is most likely going to need more of the marital property than the other party, who moves out of the house into an apartment, and perhaps has the children visit on the weekends.

Will the Family Court give most of the property to the party, who made the most money, during the marriage?

The answer to that question is not necessarily and most likely “no.! The Court views the parties as equal in the beginning of the analysis. Even if one party made most or even all of the money, during the marriage, the other party may have maintained the household in good order, handled chores for the family, and raised the children of the marriage, which to the Family Court is just as valuable a contribution as the party, who was employed and brought home the sole income in the household.

The end result is that South Carolina Family Courts may distribute marital assets in an “unequal” but in its view “fair and equitable” manner.

How does Mediation play a part in Equitable Division of Marital Property?

The mediator is skilled and trained in all areas of divorce law in South Carolina, including “Equitable Division” of Marital Property, which means the mediator knows how the Family Court Judge may view those issues, depending on the particular circumstances of the divorce, and the respective positions of the parties.

A certified Family Court Mediator in South Carolina will use knowledge, skill , education and “common sense” to help resolve any disputed issues parties may face in deciding how to divide their marital property.

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