No «hard core» decisions as to
how marital assets should be equitably distributed should be made in the separation agreement.
Florida follows the equitable distribution system in divorce to resolve
how marital assets are divided.
Having a simple prenuptial agreement in place will allow the couple to have a say in
how the marital assets and finances are divided.
How marital assets and debts are divided in order to come up with a viable property settlement agreement can be one of the most contentious issues in divorce proceedings.
In the event of divorce or the death of a spouse in a marriage, judges have considerable leeway in deciding
how the marital assets are to be distributed and disposed of.
The individualized nature of same - sex marriage laws has a considerable impact on the manner in which a court determines the length of a marriage, what constitutes marital assets, and
how marital assets will be allocated between the parties.
Not exact matches
Unless you are already business partners with your spouse or spouse - to - be, it is important to understand
how your business
assets — and potentially your business partners — could be affected by a
marital split, as Murdoch surely knows.
If you do not know
how much money is in the retirement accounts, you will need to take an inventory of your
marital assets.
How splitting
marital and nonmarital
assets works in divorce.
After awarding non-
marital assets and liabilities, the court then decides
how to distribute
marital property accumulated during the marriage.
Additionally, dividing
marital assets outside of court allows a couple to determine
how such
assets should be divided.
As near as I can tell the only difference is that, rather than simply awarding Husband an additional $ 31,751.95 in equitable distribution, it remanded the matter back «to the family court to determine
how the distribution of
marital assets shall be modified to reflect this adjustment.»
Filed Under: Alimony, Alternative Dispute Resolution, Child Custody, Child Support, Divorce - General, Domestic Violence, Equitable Distribution,
How we work, Practical Advice Tagged With: Alimony, Alternative Dispute Resolution,
Asset Division, Child Custody, Child Support, Custody, custody litigation, customer service, divorce, Equitable Distribution,
Marital Property, Separation Agreement, terminate support
Filed Under: Collaborative Divorce, Collaborative Law, Divorce - General, Divorce Tips, Equitable Distribution,
How we work, Practical Advice Tagged With: Alternative Dispute Resolution,
Asset Division, divorce,
Marital Property, Separation Agreement, Taxes
The only way adultery might have much of impact on
how assets are distributed would be if one person used certain
marital assets to support the extra-
marital relationship.
Filed Under: Alimony, Child Support, Divorce from Bed and Board, Equitable Distribution, Health Insurance,
How we work,
Marital Home, Practical Advice Tagged With: Alimony,
Asset Division, Child Support, divorce, Equitable Distribution, housing market,
Marital Home,
Marital Property, Separate Property, Separation Agreement
Instead of going in to court and asking a judge who does not know the intricacies of the divorcing parties to resolve the divorce, the two parties and their Fairfax
marital agreement lawyers use the information they have and their knowledge of their own
assets and family to decide for themselves
how best to resolve the aspects of their divorce.
Ideally, you and your spouse will decide together
how you want to divide the
marital property — you'll have to decide things like whether one of you will keep the family home and buy out the other spouse's interest or whether you'll sell the house; who will keep the furniture and other tangible property;
how you'll divide retirement
assets that each of you has accrued through your work; and
how to deal with
marital debts.
In a divorce, we understand that the spouse whom we represent will have important questions: what will happen to the
marital property, will alimony or spousal support be awarded (and if so,
how is this determined), what will happen to our house, vehicles, and other significant
assets, who will be entitled to live in the current residence, and
how will custody matters be determined?
Couples can also make decisions about
how their joint or
marital property,
assets, and income will be treated during the marriage and in the event of a divorce; they can also set limits on alimony (spousal support).
However, some couples end up spending thousands of dollars in legal fees arguing over
how to split the limited pot of
marital assets.
A court will want to consider everything when it is attempting to determine
how best to split
marital assets and debts, and to whom physical custody of the children will be awarded.
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.
Filed Under: Collaborative Divorce, Collaborative Law, Divorce - General, Divorce Tips, Equitable Distribution,
How we work, Practical Advice Tagged With: Alternative Dispute Resolution,
Asset Division, divorce,
Marital Property, Separation Agreement, Taxes
If you have no children and few
marital assets, or you've pounded out an agreement with your spouse about
how to divide things up, it's time to jump into the court process.
In addition, you and your spouse may have signed a prenuptial or postnuptial agreement, which will usually dictate
how a court will split
marital assets and debts.
In other words, the fact that your spouse had an affair is not going to affect
how your property is divided, but if your spouse spent significant
marital assets on the affair, then it may have an effect.
In determining
how to best divide
marital assets and debts, the court will consider what each spouse brought into the marriage.
Filed Under: Alimony, Alternative Dispute Resolution, Child Custody, Child Support, Divorce - General, Domestic Violence, Equitable Distribution,
How we work, Practical Advice Tagged With: Alimony, Alternative Dispute Resolution,
Asset Division, Child Custody, Child Support, Custody, custody litigation, customer service, divorce, Equitable Distribution,
Marital Property, Separation Agreement, terminate support
If you file for divorce after January 1, 2013, your spouse must notify the court that he intends to pursue a claim for dissipation of
marital assets, and the court sets a limit as to
how far back before your separation these claims can apply.
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.
Your state's laws determine
how your divorce court can repair the damage caused by your spouse's dissipation of
marital assets.
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.
The court considers the duration of the marriage, individual
assets and potential for bringing in money,
how much each contributed to the
marital property, including homemaking, and who will have physical custody of the children.
You and your spouse are prepared to agree on
how to divide your
assets and liabilities in a
marital settlement agreement;
However, courts in the state have discretion as to
how to divide
marital assets.
During divorce proceedings, most courts will distinguish between
marital and separate property when determining
how to divide
assets between spouses.
:
How and When Dissipation, Depreciation and Depletion impacts an Equitable Division of
Marital Assets.
Sometimes referred to as a divorce agreement, property settlement agreement, a
marital settlement agreement for divorce or separation is a legal contract which indicates
how you intend to divide your
assets and debts, as well as spousal support and / or child support.
In todays episode we discuss the applicability of the Minnesota Uniform Fraudulent Transfers Act to
marital dissolution proceedings and explore
how and when a court might look at
how the division of
assets and debts might appear to be an attempt to...
When there is a large
marital estate, the place of filing can make a difference in
how assets are divided.
A
marital settlement agreement is a legal contract of
how you intend to divide your
assets and debts, as well as spousal support and / or child support.
If you have questions regarding
how your
marital estate (liabilities and
assets) may be divided or allocated in divorce, please contact my office for an initial consultation.
Similarly, while Tennessee's property division statute requires that
marital property be divided «fairly and equitably,» Collaborative Divorce allows the parties also to run particular settlement ideas through the filter of a neutral financial expert, who may have ideas about
how to divide the estate in a way that is legally fair and equitable, but that also minimizes tax liability or maximizes growth on retirement
assets, for example.
The biggies: the well being of the children,
how to divide
assets, who gets the
marital home and the complications of a parenting plan.
Michigan law provides that an
asset may be considered
marital property based on a number of factors, including when the practice was founded,
how it has grown during the marriage, and
how profits are managed.
In divorce and child custody cases, the contested issues vary depending on the parties» unique circumstances, but generally they concern with whom the children will reside (physical custody), who will make decisions concerning their religious and educational upbringing, medical care and treatment, and extracurricular activities (legal custody),
how the
assets and debts of the parties will be divided (equitable division of the
marital property), and what kind of spousal support, if any, is to be paid by one party for the support of the other spouse.
Ideally, though, the decision whether to sell or not should be part of the entirety of the legal and financial planning that goes into
how you will divide the
marital property and
assets, and
how you will pay your ongoing expenses after separation and divorce.
While military divorce functions similarly to standard divorce, there are several special considerations involved regarding
how and where the case is filed, the process for dividing
marital assets, spousal maintenance and child support provisions and other concerns.
Basic concerns that often arise during the process are «Who is going to live in the
marital residence» «
How will we afford two households», «
How will we be able to financially take care of the children, and spouse if applicable», «
How will we divide
assets and debts».