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Category Archives: Property Division

Financial Disclosures in South Carolina Divorce

You might be familiar with some of the requirements to initiate the divorce process in South Carolina, such as being a resident for at least 3 months. You will also need to state either fault-based or no-fault grounds for divorce. However, there is another rule that kicks in shortly after you file, and it is …

How to Handle Timeshares in South Carolina Divorce

Timeshares are a popular option for those who want the perks of a vacation home without the headaches involved with owning real estate in a distant location. They are certainly attractive in a destination like Charleston and other parts of South Carolina, which draws visitors for golf, beaches, wildlife viewing, history, and other attractions. In …

Complications for Dividing Art and Collectibles in a Divorce

Getting divorced in Charleston means that all of your property will need to be properly classified into categories of separate (or nonmarital) property and marital property. South Carolina law requires that all marital property, including assets and debts, be divided equitably between the spouses. In general, marital property includes assets and debts acquired or accrued …

What is Commingled Property in a Divorce?

Anyone who is getting divorced in South Carolina should know about property division rules. Under South Carolina law, all marital property is divided equitably between the parties. Indeed, South Carolina is known as an equitable distribution state. This means that the court will account for all property owned by the parties — separate (“nonmarital”) and …

What Are Hidden Assets in a Divorce?

Getting divorced in the Charleston area involves the equitable distribution of marital property. To be clear, in a South Carolina divorce, the court will need to identify all assets and debts owned by both spouses and then will need to determine whether those assets and debts should be classified as marital or separate property. Only …

Non-Qualified Deferred Compensation Plans and Divorce

Most people call qualified plans pensions. Employers contribute to the plan while the employee still works for them. Employees sometimes contribute to these plans, too. A 401(k) is a perfect example of a qualified plan. A non-qualified deferred compensation plan, on the other hand, is not paid into at the time of the person’s employment. …