Law Office of Kevin L. Beard, P.A.

Will my ex take the Volvo or the Porsche?

When it comes to divvying up possessions, assets, investments and money in a divorce, spouses generally have a lot of questions to ask their attorneys. Most want to know how much they're going to be able to keep and how much they're going to be able to give up. Some are interested in learning as much as they can about their legal rights so they can arrive at the fairest possible divorce settlement, while others want to try and keep as much of the marital estate as possible.

When it comes to the question of who's going to get the Porsche, however, you might be disappointed. If the Porsche was acquired during the course of the marriage, and if one spouse wants to keep it, the other spouse will usually receive another equal compensation from the marital estate.

If you drive a $100,000 Porsche, for example, and your wife drives a $100,000 Mercedes, then it could be easy for both of you to keep your respective automobiles. On the other hand, if you drive a Porsche and your wife drives a Hyundai station wagon, your wife will receive some kind of compensation if you keep the Porsche for yourself.

This situation could be different if you owned the Porsche before marriage. In this case, you'll have a better chance of being able to keep the vehicle free and clear. Ultimately, the way each of your assets are divided will depend on the circumstances surrounding the item, how and when it was acquired and whether it has increased in value or decreased in value since the date of your marriage. To better understand what you can keep and what you'll have to give in your marriage, learn more about Maryland state family law now.

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Law Office of Kevin L. Beard, P.A.
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