Sentences with phrase «marital funds»

Generally, if you purchase a home during a marriage with marital funds, the home is jointly owned by you and your spouse.

Active appreciation is appreciation in separate property that is caused by contributions of marital funds or marital efforts.

However, it can also address rules for the relationship during the marriage, such as how marital funds will be spent, and how the spouses will treat one another.

Anything acquired during the marriage with marital funds is marital property — even if only one spouse used the item.

My question is, what if you use marital funds to purchase the policy?

For example, if one spouse wasted marital funds on an extramarital affair, the court may award a greater share of the marital property to the innocent spouse.

For example, if a spouse places separate funds from an inheritance into a joint bank account held by both spouses, the funds may become so commingled that it is difficult to later distinguish the separate funds from marital funds.

For example, if a spouse deposits separate funds into a joint checking account where marital funds are also deposited, the character of the funds may change from separate to marital property, especially if money from this account is used for household needs and expenses.

For example, if one spouse spent marital funds on his adulterous affair, the court may consider that misconduct when distributing property.

For example, if spouses live in the inherited house and use marital funds for its upkeep, any increase in the house's value — or even the house itself — could become marital property.

Courts will look at the contributions that each party made to the marriage, as well as the party's income, where the property came from (whether it was inherited, etc) and the party's behavior with regards to marital funds when deciding how property is divided.

If she drains marital funds or assets to shower gifts on her lover or to travel to meet up with him, you may receive a disproportionately high share of marital property to make up for the portion of that money that was rightfully yours.

As a result of squandering marital funds, courts may award an unequal distribution of property to the innocent spouse or, in some cases, reclassify separate property as marital property as part of the divorce, including gifts.

Depositing inherited funds in an account that also includes marital funds — proceeds from paychecks or the sale of marital property — could make it difficult for you to prove how much money remaining in the account is owned jointly and how much is separate.

The clerk then issues the Standard Restraining Order, which states that neither spouse may dissipate marital funds and that neither spouse should harass the other.

For example, if you deposited marital funds into your individual account, the court will likely treat the account as marital property even though it only has your name on it.

Separate property must be isolated and may not become commingled with marital funds.

The same holds true for paying taxes or insurance premiums in relation to your inherited home; you wouldn't make any of those payments from marital funds, even if the divorce drags on for months.

This includes going on a spending spree, purchasing luxury items, going on luxury vacations, spending the money on their paramour, or any expenditure of marital funds or marital assets that's not related to expenses or purposes that the parties had agreed to, and had utilized the funds for during the marriage.

For example, when a cheating spouse uses marital funds to purchase expensive jewelery or luxury vacations for his mistress.

For example, if your spouse spent marital funds on a new girlfriend while you were still married, the Ohio court could give you a share of assets that would otherwise be his separate property, thereby compensating you for his financial wrongdoing by reimbursing the marital estate.

The increase in value of a property due to the contribution of marital funds or the efforts of either spouse, such as in the case of a maintaining a home or building a business

However Husband contributed some marital funds to these businesses.

The Court of Appeals noted Wife had been fairly compensated by this business for her work, and that no marital funds had been used to support the business.

If, for example, the cheating spouse were to take his or her paramour on extravagant vacations totaling thousands of dollars from the marital funds, this would be an improper use of marital funds to which the non-cheating spouse might be entitled a credit.

That said, if your spouse spent significant amounts of money on a paramour, or if they acted inappropriately with a paramour in front of your children, then a court may take appropriate action — to award a larger portion of the marital assets to the spouse who was cheated on to make up for the marital funds wasted on the affair, or to award legal and physical child custody to the spouse who is not behaving inappropriately in front of the children.

Some of the complex issues Mr. Traendly handled were issues of abuse, dissipation of marital funds and assets, and allegations of parental drug use.

My question is, what if you use marital funds to purchase the policy?

Typically this involves a house, property purchased in part with separate property and in part with marital funds.

Also, if you intend to make improvements to the home before the divorce is final, you would want to use separate funds rather than marital funds to pay for any improvements.

Each time you pay a laborer from marital funds, your inherited property becomes a little more marital and less separate.

As long as the property or funds remain separate and separately titled during the marriage and are not commingled (mixed) with marital funds or property, the inherited or gifted money or property will remain separate and will not be divided when you separate or divorce.

For example, if your spouse used marital funds to splurge on his mistress by buying jewelry and luxury vacations, the court may award you additional marital assets to compensate for this loss because those funds were not used for the benefit of the family.

In legal terms, you have commingled it with marital funds and compromised its direct passage from the decedent to you.

For example, if you use marital funds to maintain or improve the inherited home, any increase in the home's value, or equity, may be considered marital property and subject to the court's division.

In dealing with dissipation, courts balance the competing goals of preventing dishonest or reckless expenditure of marital funds against reasonable use of marital funds for legitimate purposes.

However, as part of your divorce settlement process — and dependent on the division of property regulations in your state — you might want to show that the property has gained value over your marriage, perhaps due to improvements you made to it with marital funds.

In most states, property that was yours before the marriage is considered to be separate property and should remain yours (there are exceptions to this, such as if you commingled pre-marital funds with marital funds).

If money that was acquired prior to the wedding was commingled with marital funds, the court will likely consider that money to be marital property, unless the party can provide detailed financial statements proving the assets originated prior to the marriage.

You also run the risk of commingling your separate property, meaning that you've somehow contaminated it with marital funds.

For example, if one spouse deposits her separate funds into a joint bank account where marital funds are also deposited, the separate funds have become commingled with marital funds.

I recently had a client whose income, all of which was derived from separate investments, was deposited into a joint checking account and the spouse tried to claim that these were marital funds.

Community property consists of marital assets obtained during the marriage, for example, wages and items purchased using marital funds, such as the marital home.

Florida is an «Equitable Distribution» state, meaning courts strive to divide marital property and property acquired during the marriage with marital funds or labor equally among both parties.

Right after the divorce, the father moved north to Broward County, where he had bought a house (apparently with marital funds, and notwithstanding that the mother and child were in South Miami).

Property purchased with a combination of separate and marital funds is part community and part non-marital property, so long as a spouse is able to show that some separate funds were used.

Again, it depends on the facts of the case, but generally if spouse A has access to marital funds with which to pay attorneys fees, and spouse B does not have the same access, then the court can order spouse A to pay «interim» attorneys fees to the attorney for spouse B.