Sentences with phrase «incurred during marriage»

(2) The extent to which the supported party's present or future earning capacity is impaired by periods of unemployment that were incurred during the marriage to permit the supported party to devote time to domestic duties.

Unless the creditor was specifically looking to the separate property of one spouse for payment, all debts incurred during marriage are marital.

This means that any property (other than gifts or inheritances) you and your spouse acquired during the marriage belongs equally to both parties and any joint debts incurred during the marriage are the equal responsibility of both parties.

All debt incurred during the marriage, no matter by whom, is generally considered to be the community debt of both parties.

Pre-marital assets and liabilities are acquired or incurred prior to marriage, while marital assets and liabilities are acquired or incurred during the marriage.

Marital Liability - generally, any debt that you and / or your spouse incurred during the marriage.

On the other side of that coin, a retrospective appraisal is also worth having if you sell a property at a loss and need to determine how much of that loss was incurred during the marriage.

Generally, debts incurred during the marriage are community obligations.

In most community property states, both spouses are equally responsible for the repayment of debt incurred during the marriage, even if only one spouse enjoyed the benefit.

Just as you need to determine what you own, you will also need to make a determination of all of the debts that you or your spouse have incurred during the marriage (without respect to the name in which it was incurred).

The court may decide one spouse is responsible for all joint debts and liabilities of the parties incurred during marriage.

Loved ones don't «inherit» debt, unless they've co-signed on a dotted line or live in a community property state (in which case, a spouse is on the hook for debt incurred during the marriage).

The good news is family members aren't responsible for any debt left behind after death, unless they've co-signed on that debt or live in a community property state where spouses are responsible for debt incurred during the marriage.

We hold the very fact that Husband was made aware of these bills during the mediation is a valid factor to support a determination that the family court acted within its discretion in allowing evidence that these expenses were incurred during the marriage.

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 general rule.

Any assets acquired and liabilities incurred during the marriage, individually by either spouse or jointly by them

He stated he knew nothing about any debts incurred during the marriage.

If either of the parties tends to spend far more than the other, you can describe in the prenuptial agreement how you want debts incurred during the marriage to be treated for equitable distribution purposes.

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.

There are some cases where both partners can become liable for student debt incurred during a marriage, even if only one person's name is on the loan.

Not exact matches

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.

Any debt incurred before you got married remains your debt, unless you consolidated or refinanced with your spouse during your marriage.

Indeed, several courts have held that regardless of the certainty that the tax liability will be incurred in the future if an asset is sold, liquidated or otherwise reduced to cash, the trial court is not required to speculate on or consider such tax consequences in the absence of proof that a taxable event has occurred during the marriage or will occur in connection with the division of the asset.

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 states.

If you live in a community property state, you both may be responsible for debts incurred on individual accounts during your marriage.

This means openly talking about your spending habits (both individual and as a couple), future financial needs, household expenses and debt (incurred before the marriage as well as during).

However, debts incurred jointly during the marriage are the responsibility of both spouses — regardless of who actually spent the money.

The option of continuing with coverage in the same manner received during the marriage can be a great relief — The option of continuing coverage without incurring the substantially increased fees COBRA requires can augment the relief considerably.