Tuesday, July 10, 2007

still not able to title a post.
WTF, blooger? FUCK!

title: the 50/50 debate
[my state] is no fault, which means you don’t have to have a “lawful reason” to divorce, such as adultery, fraud, etc. Here in [her state] you have to legally separate for up to one year before you can be granted a divorce.

There is really no unwritten thing about 50/50. There are some funny things like Joint Tenants in Common on a house and mortgage, which is typical, and that means both people own 100%, that is for probate issues, and collection issues.

Now, anything that is acquired during a marriage may be considered “marital property,” but that does not necessarily mean completely 50/50; but it does apply to things that are in only one person’s name. That is still “marital property” therefore, it would be an asset of the marriage and would have to be included in the assets of both parties for purposes of divorce. Whether good or bad, that also
applies to debt. Of course, there is always the clean sweep where one party doesn’t care and will walk out with nothing, but they don’t care. I guess the most common issue you see is when husband owns own business, wife is stay at home and wifewants half of the business (in dollars paid to her) because she stayed home and cooked and cleaned. I have seen that work and I have seen it fail.

Unfortunately, [my state]'s divorce law has become so complicated that there really are no absolutes to things like 50/50 or split down the middle. [my state] does have simplified divorce, but you can’t own anything and can’t have children, each person takes their own debt and they split any monies right down the middle and go.

so... that's how it is.

1 Comments:

Blogger Liam said...

knew it wouldn't be as easy as one would hope...;-| oh well, live and burn...I mean learn...;-)~

Wednesday, July 11, 2007 at 11:41:00 PM EDT  

Post a Comment

Subscribe to Post Comments [Atom]

<< Home