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Splitting equity in a divorce can be tough, both emotionally and financially. Whether you decide to sell the house, buy out the other party, or agree to own it together, each option comes with a ...
Step 1: Understand community property vs. equitable distribution states Before diving into specifics, it’s important to understand the legal framework that governs the division of assets during ...
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.
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 ...
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 ...
A qualified domestic relations order (or QDRO, pronounced "cue-dro" or "qua-dro"), is a judicial order in the United States, entered as part of a property division in a divorce or legal separation that splits a retirement plan or pension plan by recognizing joint marital ownership interests in the plan, specifically the former spouse's interest in that spouse's share of the asset.