When it comes to splitting up property when you and your ex are headed for divorce, you may wonder how can you prove what is nonmarital property.
When couples decide to divorce, they often think about how they're to divide up tangible assets. They, however, rarely think about what's going to become of their personal or shared debt. This is one of those things, though, that couples must discuss when it comes to property division.
It used to be where the longer couples were together, the more difficult it would be for them to divide up their property.
When a husband or wife first receive divorce papers from their spouse, one of the first things that runs though their mind is what will happen with their home. In a state like Florida, where equitable distribution is king, the judge will generally split up property in a way that he or she deems fair or equitable.
One of the most frustrating things about divorcing after being married for several years is thought of having to part ways with the home you've lived in for some time. Aside from it being perhaps the most expensive asset that you own, you've also likely developed a emotional connection to it.
Each year, some 1.2 million American couples file for divorce. If your retirement is nearing, then you might wonder what will become of your hard-earned pension and Social Security (SS) in all of this.
When it comes to high asset divorces, one of the items that a couple ultimately seems to battle it out most about is who's going to end up with the artwork. For some husbands or wives, their emotional attachment to one piece of art or another comes to take on the form of a child custody dispute. In cases in which it does, the monetary value of a piece becomes a lot less important than does it's sentimental one.
One of the reasons so many people fear getting divorced is because of the degree of financial uncertainty that comes with having to go back to trying to covering expenses all on one's own. If you know that a divorce is looming, however, it doesn't have to be a such a scary, unpredictable time in your life. You can make certain financial decisions early on to help make your transition back into being single a much less painful one.
When a couple decides to divorce, finances can quickly become a contentious issue, especially when an individual is faced with having to give up some of his or her hard-earned money, a portion of his or her inheritance or a piece of a monetary gift he or she previously received. The right your spouse has to this money depends greatly as to whether the funds are considered to be either separate or marital property and if your state is a community property or equitable distribution one.
If you're a baby boomer getting a divorce, you might have moved beyond the stage at which you need to fight it out with your soon-to-be ex over child custody. There are plenty of other issues that can make divorce negotiations just as heated. Among those, is deciding who is going to gain access to retirement accounts.