Sentences with phrase «community property assets»

Married couples or registered domestic partners may hold title to their community property assets in their names as «community property with right of survivorship.»

In an Arizona legal separation, your community property assets and debt are divided, child custody orders are entered, child support orders are issued, and alimony may be awarded.

Community property assets are those which are acquired from date of marriage through date of separation.

Nevada is a community property state: anything owned in either spouse's name still belongs with the community property assets, though there are some exceptions.

Community property assets are normally divided equally between you and your spouse.

This can be further complicated if a community property asset was commingled or transmuted during the marriage which may turn a non divisible asset into a divisible asset.

Not exact matches

Other real estate assets are being revitalized, including the former Lakeview generating station property in southeastern Mississauga, which is expected to see a balanced mix of commercial, residential and recreational development over the next decade; and the Seaton Lands in Pickering, where one of the largest new urban communities in Canada will be developed over the next 20 years.

We've written about that at greater length here, but in short, it enables local groups to nominate «vital community assets» — including football stadiums — and then, should the owner plan to sell, gives them an opportunity to bid for the property.

«Lowering the tax rate is a way that New York can ensure that properties like Vernon Downs that do not have table games can remain competitive and continue to be an asset within the community.

The entire community will benefit from the transformation of a distressed property into a handsome neighborhood asset.

He said Wednesday that in light of the multimillion - dollar investment the Bills are planning on making to the property, it only makes sense for Erie County to take ownership of what is likely to be a major community asset.

Instead of focusing on how the charter school could use the property, she asked the groups to think about how the campus can be an asset for the entire community.

There are significant differences between them when it comes to transferring assets, and a document drafted in a common law property state might not be appropriate in a community property state.

If this is an application for an individual account and you are relying on your own income or assets (in community property states, separate income or assets) and not the income or assets of another person (or community property) for repayment of the credit requested, questions relative to marital status and to income resources and assets of the spouse need not be answered.

When you live in a community property state and file separate returns, you each must report 50 percent of your spouse's income and half of income generated by community assets, plus all of your separate income.

Community property states give couples an option to conserve more of their estate by converting separate assets to community assets through a written aCommunity property states give couples an option to conserve more of their estate by converting separate assets to community assets through a written acommunity assets through a written agreement.

While this typically resolves the problem, in community property states, where a husband and wife are presumed to own assets jointly, there can be issues with such an approach.

In addition, Alaska allows couples to declare their assets community property by signing a written agreement.

«Generally, premarital assets are not community property and can be protected,» Markland says.

NJCC, a 25 - year - old community development financial institution certified by the U.S. Treasury, participated in the Federal Housing Administration's Distressed Asset Stabilization Program (DASP) in the fall of 2012 to buy nonperforming FHA mortgages from the Department of Housing and Urban Development (HUD) on hundreds of properties in New Jersey and Florida.

-- Most assets that were obtained by one spouse after the marriage while living in a community property state.

It operates through its bank and nonbank subsidiaries which engages in community banking services such as asset management, real property title insurance, investment banking, financial planning, and brokerage services.

Essentially, any assets that are accumulated during marriage in a community - property state are owned jointly and if there is an annulment or divorce then assets are split equally no matter who earned them.

Depending on whether or not you live in a community property state will determine how you divide up your assets when filing bankruptcy separately from your spouse, but when filing bankruptcy jointly with your spouse, there is really no need to divide up your assets.

For filing bankruptcy purposes in a community property state, unless your spouse owns property you can prove has never been owned jointly, you will have to list 50 % of the value of the property as part of your assets.

In other states, namely community property states, assets acquired by spouses with a right of survivorship are also titled as community property.

Other situations involve people who live in states that have more far - reaching rules on debt collection for assets, known as «community property states.»

In addition, if there is not enough separate property to pay separate debts the community assets can be reached by creditors.

The financial support of The Peter Jay Sharp Foundation, and assistance from other partners like the City of Beacon, transformed a former industrial property into a vital community asset,» said Ned Sullivan, president of Scenic Hudson.

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

Your spouse has the ability to give away any of their assets that are not community property (property acquired during a marriage) to whomever they choose.

This is especially true when each spouse claims an asset as separate property, thus excluding it from community property.

Although California law states that the assets you have before marriage is presumed to be your sole and separate property, when married, there are a lot of situations that arise which can cause you to comingle your separate assets with community assets.

Unequal Division of Community Property It is important to understand apportionment of assets ordered be a judge in an unequal division of community property inCommunity Property It is important to understand apportionment of assets ordered be a judge in an unequal division of community property in Property It is important to understand apportionment of assets ordered be a judge in an unequal division of community property incommunity property in property in Arizona.

For matters of property division, including that involving complex property division, community property, and asset division, we truly understand the ins and outs of divorce and can use this to your advantage.

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

Any assets acquired during your marriage are community property unless they were specifically a gift or inheritance to one party.

In short, if the domestic violence resulted in an unreasonable depletion of marital assets, then the spouse who suffered the domestic violence might be awarded more of the marital assets, despite the fact that California is a community property state.

Property division attorney Mark Werner will help you identify each marital asset as either community or sole and separate pProperty division attorney Mark Werner will help you identify each marital asset as either community or sole and separate propertyproperty.

Property division in California follows the community property rule; all marital assets are to be equally divided between the two Property division in California follows the community property rule; all marital assets are to be equally divided between the two property rule; all marital assets are to be equally divided between the two spouses.

«Community property», used in Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin, and Puerto Rico, means that both spouses own the property / assets equally, as opposed to «separate property», where only one spouse owns the property.

There's a catch: Assets are community property, but unfortunately, most types of debts are too.

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.

These documents include: revocable living trusts for lifetime management of assets or out - of - state real property to avoid probate, as well as durable powers of attorney for financial and healthcare decisions, Durable Powers of Attorney (DPA), healthcare directives and living wills, Health Insurance Portability and Accountability Act (HIPAA) authorizations for release of protected healthcare information, and premarital and postnuptial property status agreements that clarify status of community and separate property.

You will then need to determine what other assets were acquired during the marriage to determine what property is community property.

This is different than distribution in «community property» states, which is based on the principle that assets acquired during the marriage should be divided on a 50 - 50 basis.

When property ownership is an issue in a marital dissolution case, the Forensic Accountant can help determine what portion of the asset (or debt) is separate vs. community.

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.

Mr. Fernandez represents high - net - worth clients in family law disputes involving divorce, child support, spousal support, the division and allocation of community property and separate property interests in business holdings, real estate, retirement benefits, and other assets.