Sentences with phrase «marital assets if»

A pre-marital asset may become a marital asset if the other spouse's name is added to the property's title or asset's account.

Not exact matches

If you do not know how much money is in the retirement accounts, you will need to take an inventory of your marital assets.

Child custody, child support, division of marital assets and debts, and spousal support (called alimony if you divorce) are all ordered by the court.

While this article isn't a form of legal advice, common sense tells you that if you're in any type of battle regarding marital assets or custody, avoid any dating.

Try to have joint back taxes paid with marital assets, if possible.

If this is an application for an individual account and you are relying on your own income or assets (in community property states, separate income or assets) and not the income or assets of another person (or community property) for repayment of the credit requested, questions relative to marital status and to income resources and assets of the spouse need not be answered.

In addition to the unified credit, the tax treaty provides a marital credit if the US assets pass to a spouse on death.

If you or your spouse own a professional practice, substantial real estate or a small business, precise business valuation is critical to the equitable distribution of your marital assets.

For instance, a pension in pay status can not be counted as income for alimony purposes if it was also a marital asset that has been divided in equitable distribution.

If you are financially disadvantaged and do not have funds to engage in litigation or even retain counsel to handle your matter or to uncover hidden assets and obtain information concerning the marital assets, you will be severely disadvantaged.

For example, it might be possible to transfer assets into a family limited partnership that has both estate planning and asset protection benefits however, if moving such assets into a Family Limited Partnership or Trust is designed to remove the asset out of the marital estate in contemplation of divorce in order to defraud the soon to be ex-spouse, the transfer may be rescinded by the court as being a fraudulent conveyance.

In short, if the domestic violence resulted in an unreasonable depletion of marital assets, then the spouse who suffered the domestic violence might be awarded more of the marital assets, despite the fact that California is a community property state.

Asset division also becomes more complex and confusing if the spouses do not know what makes up their marital and personal assets and debts, income and expenses.

An inheritance may be considered marital property if it has been «commingled» with marital assets and is used in a way that provides a benefit to jointly - owned marital property.

If you and your spouse have any joint marital property (assets or debts) they can be divided in your divorce.

That is to say, if a party comes into a marriage with something, it is important to keep that asset separate and not intermingle it with marital assets.

If the commencement date of the first action for divorce is the proper date for determining marital assets then, by statute, the IPO is husband's separate property.

Once this happens the remaining spouse may be shocked to receive a call from a debt collector or when they receive a Statement of Claim in the mail for the unpaid debt, especially if they believed that they had split the debts in the same fashion as they had split their marital assets.

If you have questions about pension division, 401 (k) division or any other aspect of marital asset division, talk with our seasoned divorce attorneys at Magner, Hueneke & Borda, LLP.

Often, the real value of property can be hard to determine, making it hard to know if you are getting your fair share of the marital assets.

For example, if you were awarded the family home and a significant portion of the marital assets, you may not be entitled to maintenance.

• Who will receive as a part of the division of marital assets the particular asset (if any) connected with the debt?

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.

An expert would be needed, for example, if a business were to be considered a marital asset.

For example, if one spouse created a business during the marriage, that business would be considered a marital asset that is subject to distribution.

As always, there are exceptions such as if an inheritance is received by a spouse and kept separately from marital assets, then that may be deemed a non-marital asset.

If the entrepreneur no longer personally owns it, it can no longer be considered a marital asset.

If there has been an intentional dissipation of marital assets, the innocent spouse may be entitled to a larger share of the remaining marital property; this is something to discuss with an experienced lawyer.

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?

Additionally, a court may decide that inherited assets need to be treated as marital property if one party has a substantial financial obligation to the other.

That said, if the non-custodial parent owns a business and the custodial parent wants to stay in the marital residence with the children, marital assets do not need to be divided 50 - 50 in kind.

Again, it is important to remember that separate, inherited property could be modified into marital property if there is an intent to use the property as a joint, marital asset.

For another, if one spouse was dependent upon another spouse's income to sustain a joint standard of living, the court may award that spouse a higher percentage of the marital assets so that his or her quality of life will not be unduly affected.

However, if the spouse who did not own the asset contributed significantly to that asset's appreciation, some part of that appreciation may be marital property.

If you own marital property, if you have children, and if you have assets that must be divided, it is often recommended that you seek the advice of a qualified divorce law firm in Poughkeepsie, New YorIf you own marital property, if you have children, and if you have assets that must be divided, it is often recommended that you seek the advice of a qualified divorce law firm in Poughkeepsie, New Yorif you have children, and if you have assets that must be divided, it is often recommended that you seek the advice of a qualified divorce law firm in Poughkeepsie, New Yorif you have assets that must be divided, it is often recommended that you seek the advice of a qualified divorce law firm in Poughkeepsie, New York.

If a case is highly contested, and / or one spouse has a history, for example, of hiding or dissipating marital assets, subpoenas of bank accounts and other financial statements can be obtained to help the court determine an award of equitable distribution when one spouse refuses to provide documentation evidencing same, or if the court or your divorce lawyers in Brooklyn have reason to believe that your spouse is not being entirely truthful in his or her disclosure of these assetIf a case is highly contested, and / or one spouse has a history, for example, of hiding or dissipating marital assets, subpoenas of bank accounts and other financial statements can be obtained to help the court determine an award of equitable distribution when one spouse refuses to provide documentation evidencing same, or if the court or your divorce lawyers in Brooklyn have reason to believe that your spouse is not being entirely truthful in his or her disclosure of these assetif the court or your divorce lawyers in Brooklyn have reason to believe that your spouse is not being entirely truthful in his or her disclosure of these assets.

In other words, if your marriage should end in divorce, your marital agreement can help ensure you keep your own assets.

If there's to be a division of property or marital assets, those will need to be listed.

Marital property includes everything, and it does not matter whose name is on the title or if the assets are held solely in one name or are jointly titled.

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.

If the marriage should end, the state will step in and divide marital assets and finances as it sees fit.

If the equitably divided marital assets will adequately provide for each party, no alimony should be awarded.

Florida requires different petitions if you have children, if you don't have children but have marital assets, or have no children or property but want the court to rule on other issues, such as alimony.

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.

Additional documents that may be requested deal with marital assets, finances, personal statistics and a notice of hearing if the case is to be heard by the court.

For example, if you purchase a new car after you are separated from your spouse, then according to the definition of marital property, this car would not qualify as a marital asset.

For example, if a savings account in the name of the spouse who owned it is separate, but the owner took money from the account and invested it in a jointly owned asset, that asset is marital and subject to distribution.

If your spouse has committed or threatened to commit acts of violence against you or your children, refuses to provide reasonable support, or threatens to destroy property or waste marital assets, we can present evidence to the court on your behalf to argue that relief is appropriate.

If you and your spouse have agreed on the divorce details, including division of marital assets, child support and parenting, then you can usually press ahead with a simple or uncontested divorce without the services of an attorney.

If you own your own business then it is likely to be least in part a marital asset.