It mentions several steps regarding property inventory and planning for tax impacts during divorce including property inventory, tax considerations and transfer of property after divorce. It also includes several questions that must be asked from the lawyer including affect of community property over ...
Section 503 of the Illinois Marriage and Dissolution of Marriage Act governs our law on the disposition of property and debts in divorce. If one were to Google this Section, it can be found at 750 ILCS 5/503. It is rather complex, so we have broken it down to what we have found to ...
How is a business valued before divorce? Valuing a business can be very complicated and will require an expert accountant. They will have to look at things like: The assets and property owned by the business, including business stock and equipment. Potential future earnings, which can ...
Lee's Question:Before we filed for this divorce we started to build a home for vacation purposes. Since the property was in the process of being built, the appraisal he had done only covered the land and improvements to the property and not the joint money we have both put towards permits...
Although, not inclusive, the aim of this guide is to give you the knowledge you need to make basic decisions about property settlement during divorce. Whether you decide to litigate, settle, or hire and attorney, hopefully you can do so with a better handle onwhat to expect. ...
Separate property includes assets and debts that belong to one spouse individually. This article discusses what qualifies as separate property and how it is protected during a divorce. Preliminary Declaration of Disclosure The preliminary declaration of disclosure is a mandatory part of the California di...
As a general proposition, only property acquired by reason of the marriage (and during the course of the marriage) is divided in a divorce. However, there are circumstances when property received after divorce is also divided. For example, your spouse may have a bonus that was earned during ...
How money and digital assets are divided depends on the law of the state where the divorce takes place, but it generally follows one of two systems:community property or equitable distribution. In community property states, any property obtained during the marriage is usually divided equally between...
nurse and witnesses are blown away as they did not realize his extensive holdings, and as Doug slips away, the nurse says: "Mrs. Smith, your husband must have been such a hard-working man to have accumulated all this property." The wife just grunts. "The a**hole has a paper route"...
for both partners. Postnups can also be narrow, which means entrepreneurs can consider documents specifically focused on a divorce’s impact on a business or intellectual property, if they wish. In addition, both prenups and postnups can help protect the couple’s privacy during divorce ...