As part of every divorce, the court is empowered to divide the marital property of both spouses. Marital property is property that is acquired by either spouse during the marriage. This can include homes, cars, jewelry, bank accounts, collections, insurance, retirement benefits, pension plans and even pets. It does not matter whether one spouse makes all of the money during the marriage, or the spouses keep their assets separate or in their own names, as long as the property was acquired after the parties were married.