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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 ... asset but the tax implications of ...
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 ...
A broker price opinion (BPO) is an estimate of the property’s value prepared by a qualified real estate agent or a real estate broker. Often used to set a listing price, it assesses the home’s ...
The Uniform Marriage and Divorce Act §307 (UMDA §307) [3] also allows for the equitable distribution of property and lists factors the court should consider, e.g. "the duration of the marriage, and prior marriage of either party, antenuptial agreement of the parties [which is the same as a prenuptial agreement or premarital agreement], the ...
Separate Property with Equitable Distribution: Under this system, when substantially more property acquired during a marriage is owned by one spouse (e.g. title to all marital property is held in the husband's name only), the courts will make an equitable distribution of the richer spouse's property at death or dissolution of the marriage.
The Virginia Department of Motor Vehicles (Virginia DMV) serves a customer base of approximately 423,000 ID card holders and 6.2 million licensed drivers with over 7.8 million registered vehicles in Virginia. Virginia DMV has more daily face-to-face contact with Virginia's citizens than any other state agency.
Tax Implications For Splitting IRAs in Divorce Assuming that IRA funds are transferred directly, meaning the custodian handles the movement of money, then there are no immediate tax consequences ...
Income splitting is a tax policy of fictionally attributing earned and passive income of one spouse to the other spouse for the purposes of assessing personal income tax (i.e. "splitting" away the income of the greater earner, reducing his/her income for tax measurement purposes), thus reducing tax rates paid by the spouse who earns more and increasing rates paid by a spouse who earns less (or ...