Property Division Flashcards

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1
Q

Marital Property

A

all property acquired during the marriage EXCEPT

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2
Q

Increase in value of Separate Property

A

if value in property increases because of either spouses contribution the property is marital

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3
Q

Burden of Proof for Separate Property

A

Party who is claiming items are separate have burden to show that

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4
Q

Exceptions to Marital Property

A
  • Property Acquired during the marriage
  • property that is excluded pursuant to a valid agreement
  • property acquired by gift or inheritance
  • property that has been sold or granted , or mortgaged in good faith
  • award or settlement that received for any cause prior to marriage
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5
Q

Factors to Consider for Distribution

A

duration or marriage, economic circumstances( age, health, retirement, earning capacity, present earnings, needs of spouse)

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6
Q

Professional License or Degree

A

May affect support but majority believes that it is not distributable marital property

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7
Q

Retirement & Pension

A

if earned during the marriage or value increases, considered marital property. The court will look at the present value

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8
Q

Exception to marital property

A

Property acquired before the marriage, excluded by valid agreement, acquired through gift or inheritance, property sold or conveyed in good faith, award settlement received prior to the marriage.

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9
Q

How does Marital fault play a role in property division?

A

Most states do not consider it a factor, however, dissipation of marital property can be considered.

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