Sentences with phrase «community property and debt»

List community property and debt in paragraph 5.

The rest of the Decree is assembled this way: Form 201 of the Decree, which is page 2, deals with spousal maintenance and retirement benefits; Form 202, page 3, describes community property and debts; Form 203, page 4, (not used when there are not children), child custody, visitation and support; Form 204a, page 5, additional relief and the judge's signature page; and Form 204b, mailing declaration, page 5 or 6, depending upon whether or not there are children.

Both you and your spouse have agreed to terms regarding the division of community property and debts, child custody and co-parenting arrangements, and how support payments will be issued.

Not exact matches

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If you live in a community property state: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin the surviving spouse is responsible for debts incurred by the account holder during his or her marriage — even if the surviving spouse did not cosign.

And even in community property states, debt before the marriage is not joint debt.

If you didn't have a joint cardholder and didn't live in a community property state, available money will be collected from your estate but the credit card issuer would have to walk away from any debt in excess of that.

Whether or not debt can be transferred to a spouse depends on whether or not the deceased person lives in a community property state — including Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin and Alaska.

However, in community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin and Alaska, which is an opt - in community property state), creditors may pursue a surviving spouse to settle a debt.

If you're purchasing in one of the nation's nine community property states, lenders can consider your spouse's credit and debts even if he or she won't be on the loan.

Texas is a community property state, and debt created during the marriage is owed by both spouses.

If you live in a community property state, and acquired student loan debt through marriage, you could be liable to pay off your spouse's debt after his / her passing.

However, if you live in a community property state (California, Arizona, Idaho, Nevada, Louisiana, New Mexico, Washington, Texas or Wisconsin), your spouse and you may be responsible for debts incurred during the marriage, and the individual debts of your spouse may appear on your credit report as well.

Relatives are not responsible for the deceased member's debt, unless they co-signed for a loan, credit card, have joint ownership of a property or business or live in one of the nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.

Keep in mind that Nevada is a community property state, which means you and your spouse will split your assets and debts equally.

However, in community property states, all new property is considered jointly owned, including income, debts, and any purchases.

The parties have accumulated certain community, joint and common property and debts during the coverture of the marriage which should be equitably divided.

E. Order the equitable division of the community property and community debts of the parties and confirm to each their sole and separate property and debts, if any;

Division of property — Our lawyers will help you divide debts and assets in accordance with the community property laws of Texas

Meaning that all income, real estate, retirement plans, stocks, etc. are considered part of the community and each spouse has an equal interest in all property, assets, and debts.

The court will issue orders about child custody, child support, alimony, the payment of attorney fees, the payment of community debts, and the use of community property by one spouse or the other during the pendency of the case.

In working with a joint neutral financial professional, you and your spouse can work to inventory separate and community property, gather information as to property and debts, generate options to divide the property and evaluate the merits of each option.

In relation to property and debt division, Kansas is a community property state.

Husband and Wife objected to the garnishment, claiming that the wages were community property under the revised agreement and could not be seized for a separate debt.

Husband argued it didn't matter if the debt was incurred before the agreement was modified, that the new agreement was valid and his wages were community property that could not be taken to pay the separate judgment against him.

Property division: Wisconsin is a community property state, meaning that all community property (marital assets and debts) are generally divided Property division: Wisconsin is a community property state, meaning that all community property (marital assets and debts) are generally divided property state, meaning that all community property (marital assets and debts) are generally divided property (marital assets and debts) are generally divided equally.

The financial arrangements involved in divorce, division of community property, marital debts and assets, spousal maintenance / alimony, the question of which party stays in the marital home, and child support, are also best handled through negotiation and / or ADR.

Property and Debt Division: Generally, all property acquired and debt incurred during the marriage will be community property subject to equitable division, but there are notable exceptions to that generProperty and Debt Division: Generally, all property acquired and debt incurred during the marriage will be community property subject to equitable division, but there are notable exceptions to that general rDebt Division: Generally, all property acquired and debt incurred during the marriage will be community property subject to equitable division, but there are notable exceptions to that generproperty acquired and debt incurred during the marriage will be community property subject to equitable division, but there are notable exceptions to that general rdebt incurred during the marriage will be community property subject to equitable division, but there are notable exceptions to that generproperty subject to equitable division, but there are notable exceptions to that general rule.

(5) Subject to subsection (3), if the spouses» first common habitual residence during the relationship between the spouses was in a jurisdiction in which a regime of community of property applies, property owned or acquired and debt owing or acquired during the relationship between the spouses that is property or debt to which the regime of community of property applies must be divided at the end of the relationship between the spouses according to that regime of community of property.

In 2015, ten states (and Puerto Rico) have community property laws that determine how debt and property are divided in a divorce.

- Identify all property (real, personal, financial) and debts; - Characterize all property or debts as separate or community; - Establish values for all property; - Divide property and debts fairly between the two people; - Decide what if any spousal support is appropriate; and -(If you have children) Work out a parenting plan and child support.

They may also come to an agreement regarding the division of any community property, allocation of community debts, determine custody and support for any minor children born of the marriage as well as agree on payment of spousal support.

Property and Debt Division: Although New Mexico is a community property state, the law regarding community property and separate property can be compProperty and Debt Division: Although New Mexico is a community property state, the law regarding community property and separate property can be compproperty state, the law regarding community property and separate property can be compproperty and separate property can be compproperty can be complicated.

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.

When couples divorce in community property states, all of those assets and debts acquired during the marriage get divided equally.

As a resident of a community property state, the court is likely to divide this debt equally between you and your spouse.

Now, Nevada is a community property state, so as far as property and debt division is concerned in a joint petition Nevada divorce, it's basically a 50/50 split between the parties.

Separate property is not eligible for division in a divorce and can not be taken to pay off community debts.

Community property possessions and community property debts are divided equally unless both spouses agree to an unequal division inCommunity property possessions and community property debts are divided equally unless both spouses agree to an unequal division incommunity property debts are divided equally unless both spouses agree to an unequal division in writing.

Your complaint also indicates if there is any separate property or community property — and the terms of divorce you desire regarding the division of debts and property, as well as child custody, and child or spousal support.

This is true even if the debt was incurred for purchase of an item that only one of the parties uses.For example, if a husband buys tools for his job, hobby, or sporting equipment on credit, that obligation is a community obligation, although the wife might never use those tools or sporting equipment.As with community property, generally, debts owed by one party prior to the marriage remain a separate debt of that party and do not become transformed into a community debt just because the parties got married.

In community property states, marital assets and marital debts are split down the middle.

If the parties can not agree upon a division of the community property and community debts, then the Court will make a division of that property and those debts.

Wisconsin is a community property state, meaning the court generally distributes marital property and debt equally, but may modify the distribution depending on the circumstances of a given case.

In community property states, property and debt acquired while married is divided equally in a divorce.

In community property states, courts award each spouse half of all assets and debts acquired during the marriage.

This could be very general, and could just be an explanation of simple community property concepts, or it could be more specific depending on the type of asset or debt involved.

For couples who choose to use a litigation process to divide their assets and debts, their community property will be divided equally and separate property will be fully retained be the owning spouse.

As your neutral Collaborative financial professional, I help you identify, document and value your community and separate property and debt, document your income and estimate your expected future expenses.

With a summary dissolution, a joint petition is filed when 1) either spouse meets the standard residency requirement, 2) the marriage is irretrievably broken down due to irreconcilable differences, 3) the marriage is childless, 4) the wife is not pregnant, 5) neither spouse owns real estate, 6) there are no unpaid debts greater than $ 4,000, 7) the total value of community property is less than $ 25,000, 8) neither spouse has separate property (excluding cars and loans) of greater than $ 25,000, 9) the spouses have reached an agreement regarding the division and distributions of assets and liabilities, 10) both waive their rights to maintenance and appeal; 11) both have read a brochure about summary dissolution and 12) both desire to end the marriage.