Most of the time, when you hear people talk about commingled assets, they are referring to bank accounts and financial assets. For instance, one spouse may have $50,000 in a bank account when the two get married, but they spend the next five years putting both of their paychecks into that account and using it for joint expenses. That commingles the assets and means the entire account is now marital property, even though the spouse who opened it initially may well remember having the $50,000 to start.
If you and your spouse are getting divorced, one of your biggest challenges may be deciding how you are going to divide your home. The best way to get this process started is for both of you to set up your own home appraisal.
You and your spouse split up, but you do it on relatively good terms. In fact, your ex even agrees to help you pay back your student loans. You put in the divorce decree that you will each be responsible for 50 percent of the payment every month.
You know you're going to have to divide your bank account during a divorce, as part of the property division process. But what about before you technically split up? Maybe you and your spouse just decided to get divorced yesterday, and you're wondering what steps to take.
What do you think your most valuable asset is? Your home? The vacation house on the coast? The money you have in your bank account?
Your divorce is going to have a big financial impact on the rest of your life. As such, it's very important to step back, take the emotions out of the process and think about the realistic financial ramifications of every decision you make. This may sound clinical and calculating, and that's exactly how you need to approach it.
You got $500,000 from your parents, as an inheritance. Your spouse is now asking for a divorce, and he or she is claiming $250,000, saying it's marital property that you were both going to use.
Getting married is one of the most exciting times in a person's life. You've finally found the person with whom you want to spend the rest of your life. The sad fact of the matter is that not all marriages will end happily ever after. With more and more divorces occurring each year, it's best to protect yourself and your assets prior to saying your vows. A common question asked is if I am married, are all my assets marital property?
If you are preparing to get married in Fort Lauderdale you should take a long look at signing a prenuptial agreement. The agreement must be signed by both parties entering into the marriage. As you prepare for the marriage you should sit down and speak with your future spouse about this important document. So, what cannot be included in your prenuptial agreement?
Preparing for a divorce takes time. It also takes a lot of willpower to admit that your marriage is no longer viable. There's plenty you need to do to prepare for a divorce and one important item is protecting your money. Even if you believe your spouse won't seek a lot of your money it's still a good idea to protect it before you file. Follow the tips in this post to protect your money in a divorce.