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Dividing debt during a divorce can be as challenging as separating assets, and it requires a clear understanding of state laws, the nature of the debt and each spouse’s financial situation.
A marriage can end in divorce, but it doesn’t mean your finances have to take a hit. If you know the law and are careful, you can escape your divorce without having to start over financially in ...
Ferguson, 639 So.2d 921 (Miss. 1994), [2] the court described equitable distribution of marital property at divorce as more fair, or equitable, than the separate property system. The court may consider such factors as "substantial contribution to the accumulation of the property, the market and emotional value of the assets, tax and other ...
The community property concept originated in civil law jurisdictions but is now also found in some common law jurisdictions. U.S. states with community property laws draw primarily from the marital property laws under the civil law of France and Spain. [10] Division of community property may take place by item by splitting all items or by values.
Palimony is the division of financial assets and real property on the termination of a personal live-in relationship wherein the parties are not legally married. The term "palimony" is not a legal or historical term, but rather a colloquial portmanteau of the words pal and alimony.
Here are seven avoidable mistakes when it comes to splitting assets as part of a divorce. 1. Keeping the marital home when it’s not financially feasible.
A divorce settlement entails which spouse gets what property and what responsibilities once the marriage is over. "It deals with child custody and visitation, child support, alimony, health and life insurance, real estate, cars, household items, bank accounts, debts, investments, retirement plans and pensions, college tuition for children, and other items of value, such as frequent flyer miles ...
By conducting an analysis of all accounts, investments and properties, a divorce financial advisor can help you avoid costly mistakes when dividing assets. Post-divorce, an advisor can help you ...
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related to: michigan law divorce splitting assets and debts 1 2 9 16 spindle nut socket