Can You Divorce Without Splitting Assets in South Carolina?

Ending a marriage is complicated, especially when it comes to dividing up assets and property. Many people going through a divorce wonder if they can finalize things without having to split everything down the middle.

The short answer is yes – you may be able to divorce without equally dividing all assets. But the details depend on your situation.

How Assets and Debts are Handled in South Carolina Divorce

South Carolina is not a “community property state.” Those states require an even 50/50 split of all assets and debts acquired during marriage.

Instead, South Carolina uses “equitable distribution.” This means the court divides assets and debts in a fair way based on the details of your marriage. The split does not have to be equal or 50/50.

You may be able to divorce and keep certain separate property, inherited assets, premarital assets, and more. An experienced South Carolina divorce lawyer can help you understand what can be divided versus what you may keep.

Marital vs. Separate Property in South Carolina

The court only divides “marital property” – assets acquired together during marriage. This includes:

• Homes purchased while married
• Vehicles bought in both names
• Bank accounts opened with joint funds
• Businesses started using marital money
• Retirement investments like 401(k)s

“Separate property” that was yours before marriage or inherited solely by you can stay separate. This may include:

• Assets owned before saying “I do”
• Inheritances and gifts to one spouse
• Businesses begun before marriage
• Properties purchased only in one spouse’s name after separation

But it gets complicated. Separate property can become marital property if mixed into joint accounts, or if the deed is changed to include a spouse.

What Factors Decide Asset Division in Divorce?

South Carolina judges consider these factors when determining a fair, equitable distribution of assets and debts:

• Length of marriage – Longer marriages favor an even split
• Ages, health, and earning potential of each spouse
• Whether one spouse was primary caregiver to children
• Each spouse’s contribution to assets and family
• Value of all marital property
• Tax and legal consequences of asset awards
• Whether either spouse illegally hid assets

Fault and marital misconduct may also impact property division. For example, the court can award a more significant share to an innocent spouse when the other had an affair.

3 Strategies to Keep Your Assets Intact During Divorce

Getting divorced is hard enough emotionally without having to split everything you own right down the middle. For many couples, protecting certain prized possessions or valuable assets from division is a top priority. Here are three potential strategies to keep more of what’s yours.

1. Keep Property Separate From Day One

The easiest way to protect assets is to keep them completely separate before marriage. Any property, accounts, or inheritances you bring in should remain in your name only. It gets trickier with assets acquired during the marriage.

2. Get It In Writing: Prenups and Postnups

A prenuptial or postnuptial agreement allows you to define which assets are non-marital property upfront. Your spouse has to willingly agree and follow state laws, but it gives you more control.

3. Work Out Your Own Settlement

You and your spouse can negotiate your own divorce settlement instead of an automatic 50/50 split. Get creative with trade-offs and compromises, but have an attorney ensure it’s fair. You may be able to keep meaningful assets through an uncontested divorce.

There are also situations where temporary co-ownership of a home or business makes sense until circumstances allow a full split later on.

With some planning and open communication, you can emerge from divorce with more possessions intact than you might expect.

More Tips for Keeping More Assets in Your South Carolina Divorce

If you want to keep certain assets separate in your eventual split, it’s crucial to plan ahead and take some protective measures before divorcing. Here are some tips for maintaining your individual property rights during the marriage:

• Document inherited property: Show paper trails proving which spouse received an inheritance or gift.
• Keep separate accounts: Do not mingle individual assets into joint bank or investment accounts.
• Split up credit cards: Closing shared accounts can help show separate finances.
• Don’t transfer titles or deeds: Adding your spouse to real estate documents makes it joint.
• List personal property: Detail which spouse owns property like jewelry, collectibles, etc.
• Value businesses properly: Get formal valuations of businesses started before and during marriage.

Additionally, instead of letting a judge divide your property during divorce, some alternative options give you more control:

• Mediation: Work with a neutral mediator to negotiate asset division yourselves.
• Separation agreement: Sign a contract spelling out asset split and other divorce terms.
• Status-only divorce: Get a “divorce of status” first, which legally ends the marriage itself. Then, you can postpone and handle the division of assets, finances, and property at a later stage.

Taking these types of proactive measures can put you in a better position to preserve your individual assets if you ultimately divorce.

Getting Help with Property Division in Your South Carolina Divorce

The reality is South Carolina does allow for flexibility in equitably dividing marital property during divorce. With experienced legal guidance, spouses can utilize agreements and evidence to achieve a fair split without necessarily dividing everything acquired over the marriage.

At Steele Family Law, our skilled Anderson divorce attorneys have helped many clients through property division. We stand by you through negotiations and litigation to secure a just settlement. Contact our office today to discuss your options for divorce that protect your best interests. With compassionate counsel every step of the way, we can help you move forward during this challenging transition.

Call Steele Family Law today to schedule a consultation and take the first step towards a brighter future.