Who gets what during a divorce

Who gets what during a divorce

When dividing property between spouses during the process of a divorce, family law courts in the United States apply one of two major types of proceedings.
“Community property” states treat all the money, assets and debts spouses acquired during the marriage as equally owned by both partners. Marital property does not distinguish the assets earned individually by one partner or jointly by both during the marriage. Consequentially, during a divorce procedure, total property, debt included, will be distributed equally among husband and wife. In Indiana exist merrillville Criminal attorney firms which can help you with the division of property during divorce
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Contrarily, the equitable division of the property allocates the assets according to the each partner’s contribution to acquiring the property, incomes, debts, responsibilities, sometimes even according to one spouse’s faulty behavior that lead to a divorce. This approach of the family law is the most common today.

It doesn’t mean that total property will be distributed equally, but in a fair and the most just way.

The family law courts recognize a category of individual or separate property. This is property that one partner had before stepping into the marriage or the property one partner inherited, got as a gift or as an award for personal injury. These assets belong solely to that partner and are not subjected to property division.

eltern_streiten_um_tochterDepending on a state where spouses file for a divorce, their property will be allocated among them according to the current family laws of that state. This refers to everything couple owns, including money, houses, cars, businesses, furniture, but also credits, loans and debts. If one partner has significantly higher income and better starting point for a future life, the court has right to order him or her to pay certain amount of money regularly during determinated period of time in order to financially support the other spouse. If the divorce case includes children, particularly minors, the court decides about alimony, child support or the amount of money one spouse has to provide for child’s insurance, schooling or medical costs.
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However property is divided, every family law judge is trying to do it in such a manner to provide both spouses with a good financial status before they step into their after-divorce future.

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Distribution of property during divorce

Distribution of property during divorce

In order to terminate a marriage, the family law court needs to divide assets and property of the partners. During the history, family laws favored the spouse who earns more. Nowadays, most courts are trying to distribute property among partners with fairness, thus providing financial sufficiency to both partners so they can start their post-divorce life. In California orange County child custody lawyer dedicated to helping clients with all child custody matters throughout Orange County.

download (11)There are two major ways of property distribution, depending on the type of family laws particular state applies. The first type, so called “community property” treats all money and assets that spouses own as equally owned by both partners, regardless of whether the husband or the wife has earned it. This refers to the property acquired during the marriage. If this approach is applied, total property will be divided equally between spouses during a divorce process.

The second type of laws implies equitable distributing. This means that all money and property will be divided adequately, according to the individual contribution to the accumulation of each partner, each partner’s needs, incomes and summary value of the property. With equitable distribution, property is not necessarily divided equally.

The same policy applies for the debts and loans spouses have in a moment of filing for a divorce.

Separate property is a term referring to the property each spouse owned prior to the marriage. It also includes inheritance and gifts. These assets are not divided during a divorce, they remain individual property.
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During the process of property distribution between spouses, the family law court usually deals with bank accounts, houses and household items, credits, loans, mortgages, all sorts of savings or small business owned by one of the partners.

When considering all the circumstances in order to split the property fairly, the family law judge includes decisions about child support, financial support for one spouse, different insurances, alimony and medical bills. Also, if there are existing and valid prenuptial agreements, the court has to take them into consideration.

It’s hard to draw precise line and provide both side of a divorce process with just and equitable treatment, but when dealing with these matter laws tend to think about the post-divorce future of both partners and financial chance for both to go on with their lives.

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Family law – Annulment

Family law – Annulment

Divorce is not the only legal way of terminating a marriage. Annulment is another procedure some spouses can use to end it. It is not allowed in every state and it can be quite complicated to meet the standards annulment requires. No matter what you are going through boca raton divorce attorney can help you.The basic policy of annulment is to pronounce a marriage for invalid and restore the settings as if the marriage never happened. Annulment usually happens soon after the couple got married, a few weeks or months later. It is similar to a divorce, but some things are different and the mere procedural steps are different.

raz-121299The same as a divorce, the annulment will terminate the marriage if required conditions are fulfilled. Since annulment happens soon after the marriage got official, issues like child custody, alimony or property division are usually not involved with the process. If there are children conceived or born during this short lasting marriage, the family law court will have to determine all the things regarding this matter.

Contrary of divorce, annulment leaves no legal traces that the marriage ever existed. Many people use this characteristic to avoid stigma or legal consequences of a divorce, because they do not apply to invalid marriage. Another difference compared to a divorce is that most states and family law courts do not require spouses to be residents of that state. Divorce can only be granted for the residents of the state. Alimony, as a financial support one spouse pays to another after the divorce, is usually not allowed after annulment.

kogarah-divorce-lawyers-300x214 (1)Though it sounds like an easy way to get a clean slate after marriage, the requirements spouses have to meet in order to file for annulment are much complex and higher than in the case of divorce. Some of the most common grounds used by family law judges to invalidate marriage include fraud, bigamy, mental illness, infidelity, lack of parental consent and closely related spouses.

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