Dividing Assets and Properties in Divorce: Factors the Court Considers

Posted by on Nov 2, 2013 in Divorce | 1 comment

Division of assets, properties, and debts that accompany a divorce case can be an additional worry-filled and taxing experience for divorcing couples, especially if no pre-nuptial agreement was entered into and, more so, if the spouses can not come to agreeable terms. This scenario would particularly be a concern to one of the spouses who chose to take care of the household over pursuing his or her professional career.

Dividing a divorcing couple’s wealth and debts is one related concern that will directly affect each of the spouse’s style of living right after the divorce is complete. Thus, this is one really sensitive issue as it will mean laying down of all finances to enable the judge (handling the divorce case) to make a fair decision on who gets which property and asset and how much debt each of the spouses will have to pay.

Before making any decisions, however, the court will first need to establish which properties and assets are subject to division, meaning, which are non-marital and marital (acquired during marriage). Properties and assets include employer-sponsored 401K or retirement savings plan, retirement and pension plans, life insurance, deferred compensation, commissions and bonuses, mutual funds, stocks and bonds, saving accounts, vehicles, antiques and art, among others. The marital home may be temporarily exempt from the division as it is usually awarded to the custodial parent (if the couple has a child/children) but only until the child finishes high school or turns 18.

Some of the other factors considered by the court in dividing property and assets are length of marriage, the income and/or property contributed (by each of the spouses) into the marriage, each of the spouse’s earning capability and income, their health, ages, and their standard of living during marriage.

Not all states are the same with regard to how their local courts divide property and assets. Unless changes have been made, the 50-50 rule division still holds true in nine states (California, Louisiana, Washington, Arizona, Wisconsin, Idaho, Texas, Nevada and New Mexico). All other 41 states make an equitable distribution, the basis of which is reasonableness and fairness.

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Different Divorce Negotiation Processes

Posted by on Aug 14, 2012 in Divorce, Law, Self Help | 0 comments

Over half of all marriages in the United States currently end in divorce, so this is a common process that you might be going through alongside millions of other people. There is some comfort in knowing that many other people are going through the same process as you are, or at least a similar one, as no two divorces are exactly like one another. In fact, there are many different kinds of divorce negotiation processes that you might not have considered or even known about that might be best for your situation.

The most well-known types of divorces are contested and uncontested divorces. In a contested divorce, couples are unable to agree on the terms of their divorce and are, therefore, unable to settle their divorce negotiations very quickly or without intense debate. Uncontested divorces are often completed much more quickly, since the couples agree on all divorce terms, and nearly 90 of all divorces in the U.S. fall under this heading.

However, there are other types of divorces that people can choose as well. Whatever divorce negotiation process you choose for your own divorce, it’s important to have legal help and assistance throughout the entirety of the process. With a qualified Raleigh divorce lawyer at your side, you can rest assured that your best interests will be a top priority throughout your divorce proceedings, contested or otherwise.

Types of Divorce Negotiations

There are several main types of divorce negotiations that people in the U.S. utilize. In addition to contested and uncontested divorces, there are:

  • Mediated divorces
  • Collaborative divorce
  • Military divorce
  • Same sex divorce

These different types of divorce may be less common than uncontested or contested divorces, but they can be very useful for certain separating couples.

If you or someone you love is considering divorce, contact an experienced lawyer today to discuss your options.

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