Sentences with phrase «distribution upon divorce»

That means that anything you and your spouse have acquired during marriage is subject to equal division and distribution upon divorce.

This is equivalent to hiding them in the eyes of the court, so attempting to shelter assets from a property distribution upon divorce will result in severe penalties if discovered.

Not exact matches

Unless a fair and reasonable division of property can be agreed upon, Oregon law states that a couple must divide their property under the principle of equitable distribution in a divorce.

There is an interaction between the probate laws that govern the distribution of property upon death, and the marital property laws that govern distribution of property between divorcing spouses.

In some cases, spouses may choose to execute a Reconciliation Agreement whereby certain spousal expectations are delineated along with agreed upon financial distributions if a divorce occurs.

In making an equitable apportionment of marital property, the family court must give weight in such proportion as it finds appropriate to all of the following factors: (1) the duration of the marriage along with the ages of the parties at the time of the marriage and at the time of the divorce; (2) marital misconduct or fault of either or both parties, if the misconduct affects or has affected the economic circumstances of the parties or contributed to the breakup of the marriage; (3) the value of the marital property and the contribution of each spouse to the acquisition, preservation, depreciation, or appreciation in value of the marital property, including the contribution of the spouse as homemaker; (4) the income of each spouse, the earning potential of each spouse, and the opportunity for future acquisition of capital assets; (5) the health, both physical and emotional, of each spouse; (6) either spouse's need for additional training or education in order to achieve that spouse's income potential; (7) the non marital property of each spouse; (8) the existence or nonexistence of vested retirement benefits for each or either spouse; (9) whether separate maintenance or alimony has been awarded; (10) the desirability of awarding the family home as part of equitable distribution or the right to live therein for reasonable periods to the spouse having custody of any children; (11) the tax consequences to each or either party as a result of equitable apportionment; (12) the existence and extent of any prior support obligations; (13) liens and any other encumbrances upon the marital property and any other existing debts; (14) child custody arrangements and obligations at the time of the entry of the order; and (15) such other relevant factors as the trial court shall expressly enumerate in its order.

Massachusetts is an equitable distribution state, meaning all marital assets must be divided fairly upon divorce.