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In community property states, the court generally divides marital assets equally, regardless of each spouses employment status. However, in equitable distribution states, the division of assets will consider factors like the length of the marriage and each spouses contributions, which may not result in a 50/50 split.
What is a red flag that a spouse is hiding assets?
A spouse who is concealing assets might start to control conversations around money, evade questions, and show a heightened sense of defensiveness. They might also begin to receive mail from banks or financial institutions that you were previously unaware of, potentially indicating the opening of new accounts.
How to mentally prepare for divorce?
Assets that may be protected from equitable distribution during a divorce are typically belong to one of two types: premarital property that has been kept from being commingled or transitioned and gifts or inheritances.
What assets are untouchable in a divorce?
Assets you had before marriage or those you inherited typically fall into this category. As long as you havent mixed these assets with marital property, they remain separate. For example, if one spouse inherited a valuable painting or received a large gift, the court generally wont divide these items.
What assets cannot be touched in divorce?
Try watching this video on .youtube.com, or enable JavaScript if it is disabled in your browser. Mistake #1: Waiting Too Long to Get a Divorce. Mistake #2: Not Hiring an Attorney Soon Enough. Mistake #3: Moving Out of the Marital Home Too Quickly. Mistake #4: Not Separating Finances.
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