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Asset freezing is a form of interim or interlocutory injunction which prevents a defendant to an action from dealing with or dissipating its assets so as to frustrate a potential judgment. It is widely recognised in other common law jurisdictions [ 1 ] and such orders can be made to have world-wide effect.
There are no “joint” retirement accounts, but assets within these accounts may still be divided during a divorce. This often happens when one person has more in retirement savings than the other.
These accounts should be dealt with during the divorce proceedings. In some cases, a qualified domestic relations order will be put in place to govern the division of these assets with the non ...
The Uniform Marriage and Divorce Act §307 (UMDA §307) [3] also allows for the equitable distribution of property and lists factors the court should consider, e.g. "the duration of the marriage, and prior marriage of either party, antenuptial agreement of the parties [which is the same as a prenuptial agreement or premarital agreement], the ...
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 ...
Continue reading → The post How to Protect Trust Assets From a Beneficiary's Divorce appeared first on SmartAsset Blog. Trusts can be a useful estate planning tool for passing on wealth to heirs ...
Editor's Note: This is the second of a three-part series that will cover five key financial steps to take before entering divorce negotiations. Part One covered why a review of your credit report ...
Separate Property with Equitable Distribution: Under this system, when substantially more property acquired during a marriage is owned by one spouse (e.g. title to all marital property is held in the husband's name only), the courts will make an equitable distribution of the richer spouse's property at death or dissolution of the marriage.