“Compulsive Buying Disorder” – or “spendaholism” or being a “shopaholic” – is characterized by poor impulse-control. It has the potential to create emotional and financial distress, both of which can wreak havoc on a marriage.
Financial Issues
If one spouse takes money from a gift or inheritance and uses it on the marital home or a family vacation, can they still…
It really depends on what the money was used for. If a certain amount of inherited money was put into renovating the marital residence and that process enhanced the value of the marital residence, then there’s going to be a claim to get some of that money back by the spouse who contributed it. We […]
If one spouse is keeping the marital home but both spouses’ names are on the title, how would you protect the other spouse?
The marital settlement agreement it is the art of drafting it. And when one spouse is keeping it and one spouse was getting the equitable interest or the money to share in the house, the spouse who’s retaining the actual physical possession is probably more than likely assuming the responsibility for paying the mortgages. So […]
Are there any tax considerations to be aware of during property division?
Are there tax considerations to be aware of during property division? Although assets divided in divorce are tax free, there may be other implications.
If both spouses co-own a business together, how will it be divided on divorce?
It would depend on how they choose to divide it. You’d have to value it and see what it is. It would depend on the other factors of the situation. The judge would have to apply what are the other assets that the parties own? Do they both have the same income potential? Do they […]
Does a spouse have any recourse if he/she doesn’t believe the property division is fair?
I’d have to ask in what context does the spouse not think the property division is fair? If the question is if the person doesn’t think it’s fair at the settlement stage or whether the parties are still in negotiation before the divorce has been finalized, then the party can instruct his or her lawyer […]
Will private business records become public records during the divorce?
Not if a protective order’s been entered. Usually this is one of the prime reasons the protective order is entered. And the protective order would set out the ground rules and lay out that what is to be kept private shall be kept private, and only disclosed to the parties for the purpose of that […]
If one spouse owns a business, how can he or she protect the company during divorce?
This is a two part question and so I’ll take it as a two pronged answer. And first I’ll look as it pertains to protecting the business financially, this again depends on the facts specific to the case. As you can see, family law is a very fact specific driven type of law. Everything needs […]
If a spouse was using marital funds to pay for gambling debts, would fault play a role in property division?
If the fault was something like one of the spouses had an undisclosed gambling addiction and was using marital funds to pay for those gambling debts? Would there be any difference made in terms of property division if this was discovered upon divorce, that he or she had gambled away $50,000 or $100,000 of marital property?
If a spouse was making fraudulent claims on joint tax returns, can the innocent spouse be protected from prosecution?
If a stay-at-home spouse signed joint tax returns during the marriage and it turned out the moneyed spouse was under reporting income or making fraudulent claims, can the innocent spouse be protected from prosecution?
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