Equitable Distribution in South Carolina Divorce
Equitable distribution is the process South Carolina family courts use to divide marital property and debt fairly. A fair division does not always mean an even 50/50 split. The Laubshire Law Firm, LLC, handles property division in Columbia divorces and other family-law matters throughout Richland County.
How a South Carolina Family Court Divides Property
Family courts generally identify the marital estate, determine the value of assets and debts, weigh the statutory factors, and decide how to divide the property equitably.
Marital property generally includes property acquired during the marriage and owned when marital litigation is filed, regardless of whose name appears on the title, subject to statutory exceptions for nonmarital property.
Factors Judges Consider in Equitable Distribution
Under S.C. Code § 20-3-620, the family court considers 15 factors when dividing marital property. These include the length of the marriage, each spouse’s contributions to the marital estate, income and earning potential, health, nonmarital property, retirement benefits, tax consequences, existing debts, and custody arrangements.
Marital misconduct can also be considered in the circumstances allowed by the statute, including when it affects the parties’ economic circumstances or contributed to the breakup of the marriage.
Transmutation, Commingling, and Dissipation
Property that begins as nonmarital can become disputed when spouses retitle it, combine it with marital funds, or use it in a way that shows an intent to treat it as marital property. Tracing records can be important when one spouse claims an asset should remain separate.
A court may also consider evidence that one spouse depleted or transferred marital assets when determining an equitable result. Bank statements, account histories, and transaction records can help establish what happened to disputed funds.
Dividing Cryptocurrency and Other Digital Assets
Cryptocurrency and other digital assets can be part of the marital estate when they were acquired during the marriage and meet South Carolina’s definition of marital property. Valuation can be difficult because prices change rapidly, so the parties may need to identify a reasonable valuation date and preserve account and wallet records.
Both spouses should provide complete and accurate financial disclosure. Omitting an account or digital asset can create credibility problems and complicate the court’s ability to divide the marital estate fairly.
Who Pays Marital Debt After a Divorce?
Family courts consider marital debts along with assets, but allocating a debt between spouses does not necessarily change either spouse’s contractual responsibility to a third-party creditor. A joint creditor may still have rights under the original account agreement even after the family court assigns responsibility between the spouses.
Property division orders are generally final and are not subject to later modification except through appeal or remand, which makes accurate asset and debt identification important before the order is entered.
Protect Your Share Before the Order Is Final
Because property division can have long-term financial consequences, gather account statements, tax documents, loan records, retirement information, and records for major assets before the case is resolved. Our attorneys can review the marital estate and help you pursue an equitable division. Call (803) 708-4755 or contact us online to schedule a free consultation.
