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Flashcards in Divorce Deck (3)
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1
Q

Divorce - Rule

A

Each asset/liability is divided equally

2
Q

Divorce - 3 Exceptions to Rule

A
  1. Disparate Earning Power: only considered as to spousal and child support.
  2. Economic Circ’s: non-pro rata division that cashes out other spouse (residence, close corporation, pension)
  3. Statutory Exceptions
3
Q

Divorce - Statutory Exceptions to Rule

A
  1. One spouse misappropriates CP
  2. Ed debt
  3. Tort liability
  4. Personal injury award
  5. Negative community (look to payment ability to protect creditors)