What is marital property?

When most people think of marital property, they think of their house and their cars. However, marital property includes a lot more than the big-ticket items. Although deciding who gets to keep the family home is often a major consideration during a divorce, it’s merely one of many debates you’ll need to settle.

Marital property also includes the furniture inside your home, any additional real estate you’ve purchased together, your pets, your investments, your retirement accounts, and your family business(es).

Property isn’t limited to assets. It also includes debts you’ve acquired during your marriage. Debts can include business loans, personal loans, mortgages, student loans taken after marriage, credit cards, and outstanding bills to utility companies.

To read more about this topic, check out our in depth blog on What is Considered Marital Property?