Category Archives: division of property
The Complexities of Dividing a Business in Divorce
Sole proprietors and small entrepreneurs make up a significant percentage of the workforce in this country, and many of these businesses were both created during and benefited from contributions from a spouse and/or marriage generally. In divorce, the law requires couples to divide their assets, absent an agreement otherwise, and businesses are included in… Read More »
Options for Dividing a Timeshare in Divorce
The types of property a couple may accumulate during marriage can vary widely. While most couples will own a family home, some also have interests in other types of real estate. If divorce occurs at some point in a marriage, a division of marital property is generally required, including real estate interests. However, some… Read More »
The Complications of Dividing Public Pensions in Divorce
Dividing property in divorce, particularly benefits that have not vested, and thus, will not be directly payable until a later date, present severe challenges. Spouses seeking divorce are expected, and, in most cases, required, to equitably divide marital property, unless a premarital agreement says otherwise. Spouses can disagree over which assets and liabilities should… Read More »
Home Equity Lines, Mortgages, and Divorce
Distinguishing and separating financial obligations are one of the most difficult parts of divorce. The longer a couple is married, the harder it is to figure out when and how many items of property were acquired or which funds were used to maintain them. Family homes and real estate in general is particularly tricky… Read More »
Divorce, Finances, and Buying a New Home
Divorce forces each spouse to undergo a number of changes as they transition from sharing everything as a couple to being a single, unattached adult. These dramatic shifts in the dynamics of a family require reshuffling responsibilities and refiguring monthly budgets that account for the reduction in manpower and financial resources. In other words,… Read More »
Why You May Need to Consider Freezing Assets
The finances of completing a divorce, and transitioning to what comes next, frequently require a reevaluation of how one spends money and finding new and better sources of income. The payment of child support and alimony, and division of property, become of utmost importance in this process, as these contributions are often vital to… Read More »
Operating a Family Business in Divorce
Divorce throws a lot of things into upheaval – where/how to live, sharing custody of a child, and finances being the most common. Often, one spouse will need to either return to work or find a job that pays more to replace lost income. The need to juggle the emotional and financial implications of… Read More »
Retirement Social Security Retirement Benefits in Divorce?
Retirement and Social Security benefits usually play a large role in a person’s long-term financial planning and stability. Anyone experienced with divorce will know that this event upends many financial goals, and requires most couples to make drastic changes to their standard of living and monthly budgets. Depending on a person’s age and capacity… Read More »
Property Distribution by Courts Must Be Equitable
Finances are frequently a major concern for someone going through divorce, either as a worry about walking away with enough to cover the costs of daily living, or as anxiety related to the possibility of being required to relinquish a substantial amount. The finances of divorce revolve around the division of marital assets and… Read More »
Dealing with a Spouse Who Is Intentionally Hiding or Squandering Marital Assets Pending Divorce
Married couples spend years building up assets in the hope of gaining financial stability for their family, and this effort often requires many sacrifices to produce the desired results. Consequently, if a couple later divorces, dividing this property frequently becomes a contentious and highly litigated issue. Relinquishing control over something that required considerable effort… Read More »
