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In community property states, marital debt is usually split 50-50 between both spouses, as it is considered jointly owned. In equitable distribution states, courts aim to divide debt in a fair but ...
A spouse who has made non-tangible contributions may claim an equitable interest in the marital property at divorce. 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 ...
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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.
A qualified domestic relations order (or QDRO, pronounced "cue-dro" or "qua-dro"), is a judicial order in the United States, entered as part of a property division in a divorce or legal separation that splits a retirement plan or pension plan by recognizing joint marital ownership interests in the plan, specifically the former spouse's interest in that spouse's share of the asset.
More couples are divorcing after age 50 than ever before. While divorce rates have declined among adults in their 20s and 30s, the divorce rate between 1990 and 2010 doubled for couples over 50.
Income splitting is a tax policy of fictionally attributing earned and passive income of one spouse to the other spouse for the purposes of assessing personal income tax (i.e. "splitting" away the income of the greater earner, reducing his/her income for tax measurement purposes), thus reducing tax rates paid by the spouse who earns more and increasing rates paid by a spouse who earns less (or ...
In some states, these are simply split down the middle. Specifically, nine states have “community property” laws that split marital assets (and debts) 50-50. Meanwhile, 41 other states have ...