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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.
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 ...
By conducting an analysis of all accounts, investments and properties, a divorce financial advisor can help you avoid costly mistakes when dividing assets. Post-divorce, an advisor can help you ...
Ferguson, 639 So.2d 921 (Miss. 1994), [2] the court described equitable distribution of marital property at divorce as more fair, or equitable, than the separate property system. The court may consider such factors as "substantial contribution to the accumulation of the property, the market and emotional value of the assets, tax and other ...
In the United States, marriage and divorce fall under the jurisdiction of state governments, not the federal government. Although such matters are usually ancillary or consequential to the dissolution of the marriage, divorce may also involve issues of spousal support, child custody, child support, distribution of property and division of debt.
The equity is divided between the two parties after any existing debts and costs to sell the home, like closing costs, are paid. ... 7 financial mistakes to avoid when splitting assets during a ...
Community of Acquests and Gains: Each spouse owns an undivided half-interest in all property acquired during the marriage, except for property acquired by gift or inheritance during the marriage, which is separate property; or which traces to separate property acquired before the marriage, which remains separate property; or which is acquired during a period when the couple are permanently ...
Here are seven avoidable mistakes when it comes to splitting assets as part of a divorce. 1. Keeping the marital home when it’s not financially feasible ... a divorce typically qualifies as a ...
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