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Any property transferred as part of a divorce keeps its tax basis. There is no step-up basis loophole in divorce proceedings. For example, say that you bought a portfolio of stocks for $200,000 ...
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 ...
The amount of child support may be set on a case-by-case basis or by a formula estimating the amount thought that parents should pay to financially support their children. Child support may be ordered to be paid by one parent to another when one is a non-custodial parent and the other is a custodial parent.
Divorce (also known as dissolution of marriage) is the process of terminating a marriage or marital union. [1] Divorce usually entails the canceling or reorganising of the legal duties and responsibilities of marriage, thus dissolving the bonds of matrimony between a married couple under the rule of law of the particular country or state.
That kind of denial is one reason that divorce brings about economic disaster, since planning for that eventuality seems disloyal. Nonetheless, 43% of Divorce Calculator shows odds your marriage ...
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