Assets obtained by either spouse during the period between the cessation of cohabitation and the legal dissolution of marriage constitute a distinct category in divorce proceedings. For example, a business started by one spouse after moving out of the marital home but before the divorce is finalized falls under this classification. Inherited assets or gifts received during this period are typically considered separate property.
Properly classifying such assets is crucial for equitable distribution. It affects the financial outcome for both parties, ensuring fairness and preventing future disputes. Historically, legal frameworks surrounding marital property have evolved, leading to greater clarity in handling assets accumulated during this interim period. This evolution reflects societal shifts and a growing understanding of individual financial contributions within a marriage, even after separation.
