Debt and asset division is one of the most important parts of the divorce process. At Comerford & Saccoccio, we work hard to make sure our clients get the financial assets they need to leave their marriages in the most financially stable position possible.
Located in Johnston, our lawyers have more than 30 years of combined experience helping clients throughout Rhode Island protect their financial interests during divorce.
When a marriage ends, all property must be divided between the spouses. In Rhode Island, marital property is not necessarily divided 50-50. Instead, the court will evaluate a variety of factors to determine what is most equitable. Properties commonly divided include:
During a divorce, only marital property is subject to division. One of the most important steps in property division is the classification of property as marital or separate.
Marital property is property that was acquired by either spouse during the marriage, or separate that was shared with the other spouse. Separate property is property that was owned individually by one spouse before the marriage, or was acquired through inheritance or gift and not shared with the other spouse.
At Comerford & Saccoccio, our attorneys diligently identify, trace and accurately classify all marital assets. When necessary, we work with financial experts to value each asset. Once we have a complete picture of the marital estate, we work hard to get fair property divisions that protect our clients’ financial interests.
If spouses agree to the division of assets and debts, they can form their own property division plan through a marital settlement agreement. At Comerford & Saccoccio, we help clients negotiate and draft property settlement agreements that clearly dictate each party’s rights and responsibilities regarding marital assets and debts.
Protect your financial interests during divorce. Contact our firm at 401-944-1600 to schedule a free initial consultation with attorneys David Comerford and Frank Saccoccio.