Sentences with phrase «joint assets»

This board is dedicated to questions, topics and threads regarding the division of joint assets in the case of divorce.

If you are managing your own affairs, consider leaving detailed instructions on how to access joint assets such as bank and investment accounts in a secure place.

Selling joint assets can often prevent a lot of credit problems from ever occurring in the first place.

This marital property is considered joint assets, meaning it is owned by both parties.

The lack of a binding contract also makes it easier for unmarried couples to split up, and significant conflict can result if a couple has purchased property together or holds joint assets.

The mediator reviews documents concerning joint assets, debts and salary information as well as expenses incurred on behalf of the child.

For example, child development experts can help inform custody and visitation arrangements while financial planners can create a financial plan for an optimal joint asset allocation.

Decisions need to be made addressing what to do with your marital home, savings and any other joint assets or debts.

Additionally, the commingling of pre-marital assets with joint assets acquired during the marriage may effectively transform an otherwise pre-marital asset into a marital asset subject to distribution.

Assets that have beneficiary designations will generally bypass probate, as well as joint assets with rights of survivorship.

The Tates, who went with their own version of «uncoupling,» believed this was a way to break up their marriage without animosity, but it required an unconventional approach — Clark and Valerie still live together in the same house, with separate bedrooms, and maintain joint assets, but have an open marriage, meaning they date other people.

While you may have to discuss logistics about joint assets or your children, you don't have to engage in any tangents or respond to any comments that aren't productive.

In addition, the inheritance should be kept separate from joint assets and not used on shared expenses such as renovating the kitchen or paying down the mortgage.

A home is one of the most valuable joint assets, and obviously can not be divided without first liquidating.

Divorce mediation can assist you and your spouse in drafting a divorce agreement that is mutually acceptable and addresses every aspect of your divorce including child custody, child support, alimony, division of joint assets, etc..

You do have more room with joint assets and spousal assets than you do with your own when qualifying for Medicaid.

If you can not afford to cover the payments for your ex's share of your joint debt, and if your ex isn't willing to refinance or work with you to sell joint assets, then bankruptcy could be the best course of action.

If your partner declares bankruptcy, creditors and the Canada Revenue Agency can go after joint assets — like houses or bank accounts — to reclaim the debt, says Laurie Campbell, CEO of Credit Canada Debt Solutions.

However, had she used that money to help pay down the mortgage, it would have become part of the value of the matrimonial home and therefore a joint asset.

But if it is used to purchase a joint asset, such as a house, it becomes the property of both spouses.

An accident victim can hold you personally liable for medical and property costs beyond your insurance limits, so you and your spouse should consider purchasing additional coverage to protect your joint assets in the event of a lawsuit.

Common examples of a joint asset are a home where both spouses applied for the loan or a joint checking account.

A joint asset is:

In addition, if the filer has joint assets with a spouse, such as a bank account or a home, the entire asset can be liquidated by the bankruptcy court in order to satisfy the creditors of the individual, even if only the individual is filing bankruptcy, depending on the laws of the state where you live.

As with debt, the impact bankruptcy has on an asset will depend on if it is an individual or a joint asset.

When you sell a joint asset, you have to use the funds to pay off the loan attached to it.

In an equitable property state (a non-community property state), your creditors can only reach 1/2 of all joint assets.

So, if your son uses his inheritance to buy a house or pay down a mortgage, keep in mind that in the eyes of the court the willedincome automatically becomes a jointly - held asset between him and his wife — that is, unless your progeny signs a contract stipulating that the money is not to be included in their joint assets.

Close joint accounts or switch them over to one namem and make a plan to deal with any joint assets (like the home) or liabilities (like a car loan).

One final property issue to look out for: joint assets and debts.

It can be particularly hard if you're not the breadwinner, and have joint assets that you can't access to pay legal fees.

It's important that joint assets are fairly split and knowing what's there is integral to sorting that out.

You can save on filing costs and outline all of your joint assets and debts in your bankruptcy.

I would therefore strongly advise any cohabiting couples that have joint assets to put in place a legal contract which specifies the joint ownership of those assets.»

Using the basic building bricks of integrity our clients will invest in our joined integrity, and integrity as such will become our joint asset.

The estate planning provisions discussed include: digital assets; evidence of inability to act; definition of grandchild; personal property; advances; joint assets; statement of intention; and real property interests.

In the Virginia Circuit Court case of Penza v. Penza, Case No: CL07 - 92, in the Circuit Court of Rappahannock County, the divorce court judge held that the accrued rent that was kept by the husband, who was not occupying the property and did not intend to retain it, was waste of a joint asset.

It is worth noting that joint assets (e.g. real property owned as joint tenants, joint bank accounts) pass directly to the surviving owner and never become assets of the estate.

«They were working together operating a joint asset and it made sense and was reasonable to make a joint purchasing decision and the Court of Appeal recognized that.

Mr Charman contended that Dragon should be left out of account in calculating their joint assets, Mrs Charman took the opposite position.

Individual liabilities are «owned» by the estate Personal Property Any joint assets such...

The intention behind the financial planning, to offset both nil rate bands against the couple's joint assets, was largely frustrated.

However, if your spouse files without you, this may leave you on the hook for these debts, and may even put your joint assets at risk of seizure.

If you rent out the home and spend the rental proceeds on you and your spouse or invest it in a joint asset, you've also muddied the waters.

State whether either spouse will continue to live in the house or apartment occupied by the couple, who will take title to each joint asset, and who will pay the mortgage and other monthly bills.

By reaching reasonable mutual agreements considering all joint assets and other issues — alimony, child custody, etc. — you and your spouse can make intelligent economic decisions and potentially save thousands of dollars.