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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 ...
The assignment of income doctrine is a judicial doctrine developed in United States case law by courts trying to limit tax evasion. The assignment of income doctrine seeks to "preserve the progressive rate structure of the Code by prohibiting the splitting of income among taxable entities."
Palimony is the division of financial assets and real property on the termination of a personal live-in relationship wherein the parties are not legally married. The term "palimony" is not a legal or historical term, but rather a colloquial portmanteau of the words pal and alimony. Nevertheless, numerous secondary legal sources refer to the ...
Pros of buying a family member’s home. Commission savings: If you and a trusted family member agree to a sale, you might be able to eliminate the need for real estate agents.Considering that the ...
[citation needed] No two community property states have exactly the same laws on the subject, and the statutes or judicial decisions in one state may be completely opposite to those of another state on a particular legal issue. For example, in some community property states (so-called "American Rule" states), income from separate property is ...
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.
A family loan is any loan that you make to a family member or friend. This can better be thought of as an interpersonal loan , made from one individual to another. Most of the time a simple loan ...
You don’t want to do all this work around how to split lottery winnings with family only to have everyone pay more in taxes. You can’t gift money to others to try to avoid paying taxes on the ...