In previous blogs we have discussed what property is considered “marital” property and subject to division between the spouses when they divorce. Generally, all property owned by either spouse before or during the marriage, regardless of who is the account holder or title holder, is “marital” and divided equitably (fairly, usually 50/50). Determining what IS marital property is only the first step towards dividing it up during a divorce action. The second step is to determine the value. The court has discretion to chose any date of valuation between the date of filing (the petition for dissolution of marriage was first ...
Tag: divorce action
December 16, 2014CD
Many divorce actions are highly contentions because emotions are high and feelings are hurt. When a relationship ends, there are often feelings of abandonment, anger, mistrust, and sadness. Divorce is not only a business / legal proceeding to divide the assets and debts and determine custody of the children; it is a grieving and healing process as well. Often litigants, in attempts to “win” or get their spouse back for the hurt that is caused, will bring personal matters into the arena of the courtroom. Many of these issues, which can be legitimate, will affect a parents’ ability to obtain ...
August 19, 2014CD
While housing markets have started to bounce back after the big crash of 2007/2008 there may be several areas that have still not totally recovered. If you purchased a home in the years before the housing bubble burst, there is a strong likelihood that you purchased at the top of the market, and the house is mortgaged currently for more that it would sell for. This is a common problem in many divorces cases in the past few years, as the marital home is often the largest asset (or debt). Further compounding the problem is that many times, both spouses’ ...
July 29, 2014CD
The divorce process inherently encompasses many issues, including child support, child custody, parenting time, and property division. Many of our past blog posts have discussed these topics generally, and in great detail. One particular thing that can muddy the waters of a divorce matter is when the parties together, or even just one, owns and runs a small business. It may seem obvious if Husband and Wife are co-owners of a family business, and both contribute to the growth and sustainability of that business, that the business is part and parcel of a divorce action. The parties, or a judge, will ...
September 17, 2013CD
Most attorneys, along with individuals who work within the legal system, take the legal “jargon” or terms given to the most common documents filed in courts in connection with divorces for granted. Ciyou & Dixon, P.C. advocates believe understanding these basics aid in understanding the more complicated legal concepts contained within those filings. In this blog post, we cover the five (5) most common terms that are used. We hope when you hear about these, you are able to understand what your counsel is referring to and why the particular legal tool may have been utilized. This will help you understand ...
October 13, 2011CD