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When the relationship unraveled and divorce was on the horizon, the spouse demanded half of the apartment’s value — only to be hit with the reality that there was no equity to split.
Whether you sell the home as part of the divorce agreement or buy out your spouse’s share, capital gains taxes could come into play. This is a tax on the sale of assets, such as a home, when the ...
The cost of not having health insurance can be financially crippling in the event of a serious medical condition, so it’s best to ensure that coverage is handled in the divorce settlement agreement.
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 ...
In a fault divorce, reconciliation and condonation share similarities. [47] If either the husband or wife decides that forgiveness is given, a defense for fault cannot be obtained. [47] As an example, in the case of abandonment, the divorce can't be based on abandonment because one of the spouses forgives on that issue. [47]
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 law responds to each of them by imposing an obligation to pay compensatory damages. Restitution for wrongs is the subject which deals with the issue of when exactly the law also responds by imposing an obligation to make restitution. Example. In Attorney General v Blake, [25] an English court found itself faced with the following claim. The ...
This order is separate from the divorce agreement, though it’s based on the decree’s contents. A QDRO must be approved by the court and sent to your 401(k) plan administrator.