Lis pendens are common in divorce cases where spouses are divvying up assets or in cases in which a home is up for foreclosure after a borrower defaults on a mortgage. How Lis Pendens Work Lis pendens is literally translated from Latin as "suit pending."1This condition can adversely affect ...
The types of spousal support are as follows. 1. Temporary Temporary spousal support is designed to help one spouse support themselves while the divorce is pending. It may continue for a predetermined period of time after that. If you and your spouse can agree, you can set up a support ...
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Tax implications of selling your home after a divorce Home sales are subject tofederal and state taxesbut if you are married and filing jointly, you can sell your primary residence the first $500,000 of equity is exempt from the capital gains tax. If you divorce and file as a single, on...
A Single Premium Immediate Annuity (sometimes referred to as an "SPIA") may be the right annuity for you if you are looking for payments that begin right away and continue for the rest of your life or for a specified period of time. The annuity is purchased from an insurance company ...
Again, a divorce case is a civil action that, procedurally, is much like any other. The defendant must know that he or she has been sued, must be given a certain amount of time to file a response to the suit and the court must be assured the defendant was served with a summons and...
At-fault and no-fault divorces are the two types of divorce categories. While the former assigns fault for the end of a marriage, the latter doesn’t.
Spousal IRAs allow working spouses to contribute to an IRA for a non-working spouse. Spousal IRAs are the same as Roth or traditional IRAs but are designed for married couples. Couples must file joint returns to contribute to a spousal IRA. ...
What are the legal grounds for annulment vs. divorce? Before receiving an annulment or divorce, one or both spouses must have a rational motive or reason that meets the legal requirements for taking action. The court will look at these arguments when deciding whether to grant the annulment ...
To avoid paying taxes on up to $250,000 profit from selling a home, one spouse must have lived in and owned the house for at least two of the last five years. To qualify for the larger $500,000 tax-free gain, both spouses must have lived in the home for at least two of the la...