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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.
Continue reading → The post Michigan Divorce Laws appeared first on SmartAsset Blog. A marriage can end in divorce, but it doesn’t mean your finances have to take a hit. If you know the law ...
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 ...
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.
Splitting equity in a divorce can be tough, both emotionally and financially. Whether you decide to sell the house, buy out the other party, or agree to own it together, each option comes with a ...
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 ...
Also, in England, the birthplace of common law, pre-nuptial agreements were until recently completely unrecognized, and although the principle of separation of property prevailed, Courts are enabled to make a series of orders upon divorce regulating the distribution of assets. Civil-law and bijuridical jurisdictions, including Quebec, Louisiana ...
Step 4: Update beneficiary designations. One of the biggest financial mistakes people make during a divorce is failing to update beneficiary designations on their investment accounts.. These ...
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