Sentences with phrase «nonmarital assets»

(g) The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the nonmarital assets of the parties.

The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the nonmarital assets of the parties

However, nonmarital assets are typically awarded to the spouse who brought them into the marriage.

The court must consider the parties» nonmarital assets but not potential gifts from family or inheritances to be received in the future.

How splitting marital and nonmarital assets works in divorce.

Nonmarital Asset - generally, anything owned separately by you or your spouse.

Not exact matches

When assets are divided during divorce, one of the most important elements is determining whether property is considered marital or nonmarital.

Whereas, however, the family court determined that the entire business had been transmuted into a marital asset, there was no finding that the nonmarital portion of Wife's retirement account had been transmuted.

Nonmarital property may also include assets or liabilities acquired by a non-interspousal inheritance or gift, or assets and liabilities excluded from being considered marital property in accordance to a valid written agreement, such as a prenuptial agreement.

Nonmarital property may include any assets and liabilities acquired prior to the marriage that has not increased in value due to marital money or labor.

An asset may be marital or nonmarital, but that distinction is for the court to determine if you and your spouse do not agree.

An asset may only be determined to be nonmarital by either agreement of the parties or determination of the judge.

(d) The financial resources of each party, including the nonmarital and the marital assets and liabilities distributed to each.