Equitable Distribution

DATE OF VALUATION OF A BUSINESS NOT DATE OF DISTRIBUTION SUE TO HUSBAND’S DEPLETION OF COMPANY’S VALUE

Sep 12, 2020

The court rejected wife’s request for alimony, but it awarded her a larger share of the parties’ assets in the divorce. The parties were married in September 1991. Wife filed complaints for divorce and support in September 2013. In March 2019, the divorce master filed his report and recommendations. Both parties filed exceptions. Wife sought […]

HOW TO UNCOUPLE INSURANCE POLICIES IN DIVORCE

Jul 08, 2020

While most divorcing couples focus on the delicate and often difficult issues of child custody and dividing assets, breaking up can be hard to do in terms of your insurance policies, too. Whether the policies are in place for protection or as an investment, divorcing spouses need to review them in the context of their […]

FACING DIVORCE? 8 WAYS TO PROTECT YOUR ASSETS

Jun 24, 2020

Establish your own credit and close joint accounts. Beware of mutual debt. Hire someone who’s smart about money. Don’t raid retirement funds to pay for a divorce. Gather all financial and retirement documents. Know how divorce affects Social Security benefits. Get smart about retirement plans. Protect your survivor benefits. REF: Leslie Haggin Geary, Bankrate.com Kindly […]

WIFE’S SURVIVOR BENEFIT SHOULD HAVE BEEN INCLUDED IN THE EQUITABLE DISTRIBUTION OF MARITAL PROPERTY

Sep 26, 2019

Wife’s survivor benefit should have been included in the equitable distribution of property. The court ordered wife to roll over a portion of her retirement account to accomplish an immediate offset. The parties were married in 1986. They separated in 2018, and husband filed for divorce. Following a hearing, the divorce master filed a report […]

BUSINESS VALUATION IN DIVORCE

Jun 28, 2019

Dividing a business owned by one spouse can add a level of complexity to a divorce. If a court decides the business is considered marital property, the value of the business must be determined and divided between the parties. In a community property state, the value may be subject to a 50-50 split. In other […]

INSTALLMENT PAYMENT PLAN OF MARITAL ESTATE TO WIFE TO AVOID FINANCIAL HARDSHIP

Jun 26, 2019

A divorce master did not err in ordering husband to pay wife her share of the marital estate in five installments since requiring husband to liquidate his assets and immediately pay wife a lump sum would impose severe financial hardship upon him. The court overruled wife’s exceptions in part. The parties were married in 2002 […]

HUSBAND HELD IN CIVIL CONTEMPT FOR FAILURE TO MAKE EQUITABLE DISTRIBUTION PAYMENTS

Jun 21, 2019

Trial court properly found husband in civil contempt of its order requiring him to make payments to wife under the parties’ equitable distribution agreements and properly imposed sanctions in the form of counsel fees in favor of wife because wife showed husband has notice of the order, he had the ability to pay and he […]

Dividing Up Debt In A Divorce

Apr 29, 2019

In addition to the property acquired during the marriage, the marital debt is divided upon divorce. Dividing the debt upon divorce determines who is responsible to repay the debt. WHERE BOTH SPOUSES CO-SIGNED If both spouses co-signed for a debt, both spouses will probably be held to “joint and several liability” for the debt. “Joint […]

Effect Of Divorce On Life Insurance

Apr 24, 2019

Upon divorce, it is important to review the beneficiary designations on existing life insurance policies and make any necessary changes. This may depend upon the financial obligations between the parties, such as alimony, child support, and other financial issues that may be contained in the divorce settlement agreement or ordered by the court. EFFECT OF […]

A DIVORCE COURT RETAINS EQUITABLE AUTHORITY AFTER ENTRY OF A DIVORCE DECREE TO INTERCEDE AND CORRECT ECONOMIC INJUSTICE

Nov 26, 2018

While the court did not adopt the parties’ settlement agreement in a divorce decree, it retained jurisdiction over wife’s property rights claims through the preservation language in the divorce decree, the underlying principles of equity and economic justice and the power to enforce contractual obligations. The court granted wife’s petition for special relief and contempt. […]