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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 ...
A separation is a legal process in which you remain married but divide up many of your assets and responsibilities. A divorce is a legal process in which you dissolve the marriage entirely.
Most community property states start with the presumption that community assets will be divided equally, whereas "equitable distribution" states presume fairness may dictate more or less than half of the assets will be awarded to one spouse or the other. Commonly, assets acquired before marriage are considered individual, and assets acquired ...
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Community property (United States) also called community of property (South Africa) is a marital property regime whereby property acquired during a marriage is considered to be owned by both spouses and subject to division between them in the event of divorce. Conversely, property owned by one spouse before the marriage, along with gifts and ...
However, if a cohabiting partner "believes" that they are married, then they are referred to as a "Putative Spouse", which would give them the same rights as a legally married person in a divorce proceeding. [73] Minnesota has been listed as one of the three most "liberal" palimony states, in addition to Washington State and California. [60]
Retirement accounts, such as a 401(k) or a pension, can be major assets in a marriage and should be considered in the settlement negotiations. Sometimes the retirement accounts of one spouse may ...
Several states require that the couple must live apart for several months before being granted a divorce. [4] However, living apart is not accepted as grounds for a divorce in many states. [5] In the United States married couples are allowed to end a marriage by filing for a divorce on the grounds of either fault or no fault. [6] In the past ...