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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 fault divorce is a divorce which is granted after the party asking for the divorce sufficiently proves that the other party did something wrong that justifies ending the marriage. [8] For example, in Texas, grounds for an "at-fault" divorce include cruelty, adultery, a felony conviction, abandonment, living apart, and commitment in a mental ...
It is commonly claimed that half of all marriages in the United States eventually end in divorce, an estimate possibly based on the fact that in any given year, the number of marriages is about twice the number of divorces. [91] Amato outlined in his study on divorce that in the late of 1990s, about 43% to 46% of marriages were predicted to end ...
Dear Penny, I’ve been married for 42 years and worked throughout those years. To my surprise, my husband has been planning a divorce to coincide with his retirement (I have notes in his writing).
Avoid Paying Taxes on a Divorce Settlement. Any property transferred as part of a divorce keeps its tax basis. There is no step-up basis loophole in divorce proceedings. For example, say that you ...
Loans from family members, for example, may be treated as a gift to that spouse. “It depends upon the negotiated settlement— or the ruling of the judge if the divorce is contested,” said Butler.
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