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[quote=Anonymous]Either talk to the lawyer or read this, the same end result. You need to educate yourself about the financial rights / law
before you hang  him to dry.

Maryland:
[b]All property obtained [u]during the course of the marriage[/u] is marital propert[/b]y, regardless of who paid for it. The exception to this general rule is property received by one spouse as a gift, inheritance from a third party, or excluded by a valid agreement.

Virginia:
All property acquired by a married couple after the official date of the marriage is considered "marital property" and thus subject to the laws of property division upon divorce. Virginia is an "equitable distribution" state.

DC:
Since District of Columbia is an equitable distribution state, all marital property is divided equitably unless agreed to otherwise by the divorcing spouses. If the parties don't agree what is equitable, then a judge will determine what is equitable.

State Laws

[b]States are either equitable distribution states or community property states[/b]

[b]In community property states[/b], the law recognizes that property that was earned or acquired during the marriage is property that is jointly and equally owned by both spouses. In community property states, [u][b]the courts typically exempt property that was owned prior to the marriage[/b][/u], received as a gift or received as an inheritance. This usually includes any income that was derived from a separate asset.

[b]In equitable distribution states,[/b] the court evaluates from where the property derived to determine its owner. Equitable distribution states may look to the legal title of an asset to help determine whether it is a marital asset or separate asset. In equitable distribution states, [u][b]premarital property, gifts and inheritances are usually excluded from division.[/b][/u]

The central component that makes community property states different from equitable distribution states is how the court treats marital assets. In community property states, the court assumes that the assets are owned 50/50. Equitable distribution states strive to distribute the assets in a fair manner, even if doing so does not make an exact 50/50 split.

Equitable distribution states may provide an asset that was acquired during the marriage solely to one spouse. They may even order that certain separate property be given to the other spouse, as long as state law is followed. State law may require that the family judge provide a written statement regarding why separate property was distributed to the other spouse. Alternatively, state law may allow the property to be distributed in this fashion if the other spouse caused waste to marital assets by gambling away the funds or if the other spouse committed adultery and spent marital assets on the affair partner.

Equitable distribution states can also look to a variety of factors in determining what is a fair division of property. For example, they may consider what separate property each spouse will have after the divorce, how much spousal and child support has been awarded and the length of the marriage.
Property per an Agreement
If spouses do not like the default rules that their state uses, they are free to negotiate this issue among themselves. This may be completed at the time of divorce through the process of mediation or negotiation. The spouses may reach an agreement regarding how their property should be divided. The judge may incorporate this agreement into the divorce decree.

Alternatively, spouses may come to an agreement before their marriage. For example, they may enter into a prenuptial agreement that states how property will be treated in case of divorce or the death of one of the parties. Prenuptial agreements often have specific procedures that must be followed, such as disclosing certain financial information and being informed of the recommendation to seek independent legal counsel, in order to be enforceable. A postnuptial agreement is similar, but it is entered into after the couple is already married.[/quote]

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