Tag Archives: Marital Liabilities
What happens if the parties in a divorce cannot agree on the value of their assets?
Normally, the court is going to divide the marital assets and liabilities so the parties have an equal distribution of those marital assets and liabilities. Case law is very clear that if the court decides to make an unequal distribution of the assets and liabilities there has to be a compelling reason. Therefore, it… Read More »
How assets and liabilities are valued in a divorce?
How does the court determine how much the assets are worth? Or how much the liabilities cost? This is why valuation of assets and liabilities is an important issue in a divorce. There can be three valuation dates of marital assets and liabilities: – First is the date of separation of the parties. This is… Read More »
How are assets and liabilities divided in a divorce?
After a court identifies the characteristic of all assets and liabilities, the court must distribute those assets and liabilities fairly after considering the following factors: The contribution to the marriage by each spouse. The economic circumstances of the parties. The duration of the marriage. Any interruption of personal careers or educational opportunities of either… Read More »