Sentences with phrase «debts during a separation»

Not exact matches

These rules, which are contained in the Family Law (Scotland) Act 1985, are designed to ensure fair sharing of the assets (or debts) which have been built up during marriage and which are still in existence at the point of separation.

Debt incurred before marriage or after separation is typically considered «separate debt», however student loans borrowed during marriage may be deemed «marital» debt, especially in the community property staDebt incurred before marriage or after separation is typically considered «separate debt», however student loans borrowed during marriage may be deemed «marital» debt, especially in the community property stadebt», however student loans borrowed during marriage may be deemed «marital» debt, especially in the community property stadebt, especially in the community property states.

This will prevent the couple's assets and debts from being further intertwined during the separation period.

These agreements establish the guidelines for how you and your spouse will treat such issues as your finances, debts, assets or property division and spousal support during your relationship and in the event of a separation.

In general terms matrimonial property includes all assets belonging to the parties individually or jointly which was acquired during the period of marriage and held as at the date of separation, less any debts similarly held by the parties individually or jointly as at that date, subject to a few exceptions.

A chapter 13 case presents greater difficulties than a chapter 7 case for separated spouses because of the ongoing obligation to make plan payments, the evolving goals of husband and wife during the bankruptcy and separation, and the ability of the husband or wife to discharge debts that are not domestic support obligations but that are related to divorce and separation.

During the one - year separation period, North Carolina allows you and your spouse to negotiate a separation and property settlement agreement regarding issues of property, debts, custody and support.

Additionally, a separation agreement should typically discuss who is living in the marital residence and how the couple is handling debts, assets and shared property during the separation.

This agreement operates like a contract and may cover issues related to the division of marital property and debts, custody and visitation of any children, and child and spousal support during your separation period.

During the separation, both spouses are still liable for any debts contracted by either spouse, including personal debts contracted by one party without the knowledge of the other.

The separation agreement could effectuate a «freeze» on all of your assets and debts that were acquired during your marriage.

Perhaps the custodial parent has assumed great debt to support the family during the marriage; perhaps the custodial parent has a legal duty under a judgment or separation agreement to support another person.

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

During the separation of their assets and debts, called equitable distribution, we focus our efforts on ensuring that each it is balanced.

Some states have gotten fairer about new debts incurred during a separation.

California's community property law basically includes as «community property» all assets and debts and income acquired during a marriage, before permanent separation.