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Classification of Marital Assets. Why It’s so Important?

When married couples acquire a property or properties during the course of their marriage, irrespective of who owns it, it is generally known as marital assets. Most common examples include cash, house or estate, stocks, insurance, and pension. In contrast, those things that are not considered as marital assets are those that are acquired before marriage such as assets acquired as a gift, assets given by inheritance, assets that are traceable to other distinct property, like for instance cash received from a sale of a home acquired before marriage, and assets that are agreed upon before marriage, in writing, by...

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