Once we have the
draft of your Property Settlement Agreement, developed through and resulting from our mediation sessions, you then come to our office and read the draft.
To ensure the
fairness of a property settlement agreement, it's critical that ALL of a couple's assets be identified and valued prior to the property division mediation.
In negotiation a marital settlement, divorcing spouses must clearly distinguish between payments that are
part of a property settlement and those that are alimony.
Deferred compensation refers to pension plans, 401K plans, IRAs and other retirement assets.Such plans are divisible as part
of a property settlement in divorce regardless of which party is named on the plan.
Domestic Relations Order - Any judgment, decree, or order (including
approval of a property settlement agreement) that (1) provides child support, alimony payments, or marital property rights to a spouse, former spouse, child, or other dependent of a participant, and (2) is made pursuant to a state's domestic relations law (including a community property law).
Incorporation vs.
Merger of Property Settlement Agreement (PSA) with Decree: The basis for the Arizona Court of Appeals» decision to affirm the decision made by the trial court to decrease spousal maintenance was based on the fact that the PSA was incorporated into the decree; not merged.
On the transactional side, we serve as consultants to law and accounting firms to provide tax counsel regarding matters as varied as, for example, business succession plan structures, corporate mergers, acquisitions and reorganizations, and tax - efficient
structuring of property settlement agreements upon divorce.
• Prepared a settlement agreement that engendered resolution of a $ 50,000 construction case between the contractor and the owner of the property
In order to have a clear understanding of whose financials I need to collect, I need the following information: Property Appraiser sheet, a copy of the last recorded Deed, a
copy of the Property Settlement and Judgment of Divorce.
A mediated divorce happens when the spouses use a trained neutral mediator to help them reach agreements on the terms and
conditions of property settlement, child custody and visitation.
Special rules apply in situations where the property has been transferred between spouses or common - law partners as part
of a property settlement or where the couple is separated when the property is sold to a third party.
No such deduction is given for amounts paid by an obligor as the result
of a property settlement, although that is a factor the court may wish to consider in determining the obligor's ability to pay the scheduled amount of support at the present time.
Other liabilities must be negotiated as part
of the property settlement agreement and may require no spouse indemnifying the other.
In the nine community property states, half the money in a joint account belongs to each spouse — and each spouse is generally entitled to reimbursement of his half as part
of the property settlement.
The recipient
of a property settlement has some protection in the event of bankruptcy by the payor spouse, but the terms and conditions of property settlement agreement defining alimony must be clear and lucid.
Although it may be many years before you are able to access superannuation, it is important to consider it as part
of your property settlement.
Spousal support is not part
of the property settlement.