Sentences with phrase «as marital debt»

Not to mention, any purchases made during the trial separation will still count as marital debt.

Typically, the court treats credit - card debt acquired during marriage as a marital debt for which both parties are responsible, even if only one spouse accrued the debt.

Not exact matches

This perspective unmistakably reveals the unwholesomeness, not to put it more strongly, of our way of life: our obsession with sex, violence, and the pornography of «making it;» our addictive dependence on drugs, «entertainment,» and the evening news; our impatience with anything that limits our sovereign freedom of choice, especially with the constraints of marital and familial ties; our preference for «nonbinding commitments;» our third - rate educational system; our third - rate morality; our refusal to draw a distinction between right and wrong, lest we «impose» their morality on us; our reluctance to judge or be judged; our indifference to the needs of future generations, as evidence by our willingness to saddle them with a huge national debt, an overgrown arsenal of destruction, and a deteriorating environment; our unsated assumption, which underlies so much of the propaganda for unlimited abortion, that only those children born for success ought to be allowed to be born at all.

For Married Wisconsin applicants: you recognize that the debt you are seeking will be incurred as a family obligation under Wisconsin law and that your marital property may be subject to liability under this obligation.

§ 523 (a)(15)-- Debts owed to a former spouse pursuant to a marital separation agreement, but which do not qualify as Domestic Support Orders.

What this means is that your property is owned jointly by you and your spouse as a single marital entity and can not be liquidated to pay the debts of only one owner.

Just as marital assets should be equitably divided, so too should marital debts.

The trial court did not err in refusing to use an alternate valuation date for the sale of the company stock, as husband used the proceeds to pay taxes and marital debt, with each spouse receiving half of the remaining net proceeds.

However, just as an argument can be made that one's separate property should be construed as marital property, an argument may also be made that debt accrued during marriage should be assessed to the party who created the obligation.

When a divorce is filed and granted in New York State as an «Uncontested Divorce» it means that the parties to the divorce (the husband and wife, or both spouses in a same - sex marriage), have signed their applicable divorce papers that were filed in court, to indicate that they both agree to all of the terms of their divorce, including: the equitable division of their joint marital property (assets and debts) and the payment or waiver of spousal support.

Some of the main topics that need to be addressed are child custody, referred to now as legal decision - making, parenting time, child support, alimony (i.e., spousal maintenance), a division of marital assets and debts, and the payment of attorney fees, expert witness fees, and court costs.

Debt Allocation: Each spouse must concur on the allocation items specific to marital debt, suchDebt Allocation: Each spouse must concur on the allocation items specific to marital debt, suchdebt, such as:

When a couple decides to end their marriage, their marital property, as well as debts, must be split in a fair and equitable manner under Florida law.

Finally, you must attach the marital settlement agreement (a written agreement dividing your property and debts, resolving alimony, establishing child support, custody and visitation, and settling any other issues in the marriage) as an exhibit to the petition.

Once this happens the remaining spouse may be shocked to receive a call from a debt collector or when they receive a Statement of Claim in the mail for the unpaid debt, especially if they believed that they had split the debts in the same fashion as they had split their marital assets.

If you believe that you and your spouse will have difficulty agreeing about division of marital property and debt, then it is critically important to seek legal advice as early as possible.

The court will go through a discovery process to determine what property and debt should be classified as marital or separate.

• Who will receive as a part of the division of marital assets the particular asset (if any) connected with the debt?

The divorce ruling will comprise orders about marital property and marital debts, as well as custody, visitation, child support and spousal support.

Since Wife incurred this debt for her own post-separation living expenses, the Court of Appeals found the family court improperly treated this debt as marital.

A practice of saving paperwork for one year after the relevant statute of limitations for a lawsuit expires is common, but some kinds of paperwork needs to be retained much longer such as vital statistics records (e.g. birth certificates, marriage certificates and divorce decrees) that can prove citizenship and marital status, documents showing the purchase price of property that may later be sold until it is sold (for tax purposes), documents that prove ownership of property that is still owned, documents that prove final payment of debts, many documents related to a divorce, and many documents related to estate planning.

LetsGetDivorced.com is an online self - directed legal document assembly service for people looking to file a simple uncontested divorce, where both spouses agree on all issues of their divorce, such as equitable distribution of their marital property and marital debts, spousal support (a / k / a alimony), child custody, visitation and child support.

The Judge also determines what he or she thinks ought to be included with the marital property to be divided, the value of those assets, and how the assets (and debts) will be allocated as between the parties.

As long as the asset or debt was acquired during the marriage, with a few notable exceptions, it is considered marital property and will be divided in an equitable manneAs long as the asset or debt was acquired during the marriage, with a few notable exceptions, it is considered marital property and will be divided in an equitable manneas the asset or debt was acquired during the marriage, with a few notable exceptions, it is considered marital property and will be divided in an equitable manner.

The marital separation agreement often includes decisions such as the division of property and other assets, alimony or maintenance payments, debt division, and which spouse is allowed to live in the family home.

Just like your assets, your debts will also be classified as marital (community) or separate.

You or your attorney need all the facts of your case to present to the judge, such as the values of your assets and the extent of your marital debt.

The mandatory financial disclosure requires both spouses to produce information about: individual and marital assets and individual and marital debts; income, such as income from wages, self - employment, and passive investments, and expenses.

The judge examines the following aspects of your marriage, and so must you as you contemplate your marital debt:

The terms of a divorce agreement should be memorialized in a «marital settlement agreement» («MSA»), which is a written contract between spouses that resolves most or all of the issues in their divorce, such as alimony, child custody, child support, and the division of property and debts.

If you choose to pay it off through marital proceeds, only half the debt is your responsibility, but half of the asset's book value gets credited to you as well.

As you go through the divorce process, you and your spouse will work to divide all marital property, including debts,...

The divorce procedure is essentially the same when it comes to the distribution of the marital assets and debts, retirement accounts, Social Security benefits, as well as alimony and inheritance rights.

If you live in a community property state — Arizona, California, Louisiana, New Mexico, Nevada, Idaho, Texas, Washington or Wisconsin — assets and debts you acquire during your marriage belong equally to both spouses, except in certain narrow circumstances, such as assets acquired by inheritance or gift that you kept separate from your marital assets.

After all the pieces are in place and each of you has a complete picture of your marital assets and debts, as well as your individual incomes and budgets, you can begin trying to negotiate a divorce settlement.

The court first classifies property and debt as marital, and then it assigns value on both.

This may include custody of the children, child support, visitation, division of the marital property, health insurance, debts, retirement, and any other issues that have arisen as a result of the marriage.

In Pennsylvania, spouses can negotiate each person's responsibility for marital debts as part of a settlement agreement.

Some states require the parties to submit an affidavit, child support calculation worksheet, and other materials such as a list of marital property and debts.

Include a provision that a spouse who files for bankruptcy agrees to notify the other spouse of the bankruptcy filing within a certain period of time, such as 10 days, to give the nonfiling spouse the opportunity to contest the discharge of marital debts in bankruptcy.

The court determines how to divide property by evaluating several key factors, which include the needs of each spouse, the standard of living of the parties during the marriage, each spouse's age as well as health and earning capacity, any established custody arrangement, each spouse's contribution to the marriage and marital assets, and the income, assets and debts of each spouse.

They ask for details about your marital property and debts, as well as your personal income and expenses.

This agreement puts the resolution of marital issues such as property, debts, financial matters, child custody, visitation and matters of support in writing.

Marital debts are divided in divorce just as assets are.

When the court divides property, it considers such factors as the length of the marriage, any prior marriages, the ages, health, lifestyle and income potential of each spouse, each spouse's separate estate and debts, whether one spouse assisted in the education or training of the other and contributions to the marital property including the contributions of a homemaker.

When negotiating through a divorce, one of the most important topics involves which spouse will get what property once everything is finalized, as well as who will be responsible for what portion of the marital debt.

It can inform how debts will be counted as marital or non-marital.

Pro se mediations through Family Diplomacy would typically average a total of less than $ 2,500, broken down as follows: $ 250 for the first 2 - hour session (which would deal with issues related to parenting); $ 500 for the second 2 - hour session (which would deal with division of property and debts and support); $ 500 for drafting the marital settlement agreement; $ 500 for drafting the remaining required documents (excluding the financial affidavits); $ 250 for a third session, which would last about an hour, to finalize all documents; and $ 408 for the court filing fee.

Spouses will need to bring current statements of all marital assets and debts, as well as copies of tax returns for the previous three years, paystubs, W - 2's, any appraisals of properties or businesses, as well as other specific items.

These principles apply to dividing marital debt as well.