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In dividing shared assets during a divorce, it can be tempting to want to keep the marital home for any number of reasons, but it’s important to be sure this is the best financial decision for you.
Post-divorce, an advisor can help you create a new financial plan, establish a budget as a single person, help you understand the tax implications of selling assets and provide guidance on how to ...
The division of that equity during divorce typically depends on various factors, including any prenuptial or postnuptial agreements, state laws and the couple’s specific circumstances.
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 ...
Rather, services must be linked to an accumulation of wealth or assets during the relationship. Waage v. Borer, 188 Wis.2d 324, 525 N.W.2d 96 (Ct. App. 1994). There must be proof of specific contributions that directly led to an increase in assets or accumulation of wealth. Ward v. Jahnke, 220 Wis. 2d 539, 583 N.W.2d.656 (Ct. App. 1998 ...
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 ...
Keep in mind, it’s illegal to conceal any assets during divorce proceedings. If the divorce is amicable, Jen may be able to sit down with Ben and work out terms that are agreeable to both parties.
The object is to prevent widow(er)s and divorce(e)s, and their minor children, being cast into poverty by the death or divorce of the richer spouse. Accrual System ( South Africa ) or Deferred Community Property ( Canada ): Marital property is separately owned during the marriage, but after marriage (divorce, death of a spouse), the net assets ...