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Digg it UP - Asset Protection in Divorce
China has become the world leader in providing high quality consumer electronics. Big name electronics companies have set up shop to manufacture in China. Apple, Sony, and Motorola are some of the bigger names.It seems the increasing appetite worldwide fo
There is a common custo
Have you ever been on a large team, say 20 members or more, and the leadership put all of you into a room to brainstorm ideas? If you're like me, after participating in some of the idea-storming, you backed up to a wall in order to observe the chaos.
Marital property consists of all income and assets acquired by either spouse during the marriage, even if an asset is in one spouse's name. This marital property is subject to division between divorcing spouses. Distinct property, such as property owned prior to the marriage, your inheritance, and gifts are excluded from marital property; these types of property remain non-marital property and are not divided at the time of divorce.
Individual property can lose its identity if mixed with marital property. For example, if you deposit your pay check into your premarital savings or investment account after marriage, then that account is considered marital property. The same may happen with inheritance property, like a joint account with your spouse. If you wish to have your partner's name on the deed and keep your entire equity or a particular portion of that equity, you should both sign an accord stating who possesses what piece of the property. Without an agreement, it will be treated as marital property and divided at the time of divorce.
There is a common custom
After getting your work in print, definitely savor your success -- you've earned it -- but don't sit and savor too long. You need to get your name out there and the way to do it is by producing good work that will appeal to your audience.Here are a few wa
Individual property can lose its identity if mixed with marital property. For example, if you deposit your pay check into your premarital savings or investment account after marriage, then that account is considered marital property. The same may happen with inheritance property, like a joint account with your spouse. If you wish to have your partner's name on the deed and keep your entire equity or a particular portion of that equity, you should both sign an accord stating who possesses what piece of the property. Without an agreement, it will be treated as marital property and divided at the time of divorce.
There is a common custo
One of my first "Big Dates" was a Cotillion dance in 8th grade...or was it seventh? Cotillion was an attempt by a local "grande dame" to nurture refined manners in a group of young teens along with ballroom dancing instruction. I think it was a truly nerve wrack
Individual property can lose its identity if mixed with marital property. For example, if you deposit your pay check into your premarital savings or investment account after marriage, then that account is considered marital property. The same may happen with inheritance property, like a joint account with your spouse. If you wish to have your partner's name on the deed and keep your entire equity or a particular portion of that equity, you should both sign an accord stating who possesses what piece of the property. Without an agreement, it will be treated as marital property and divided at the time of divorce.
There is a common custo
One of the first signs of a sinking ship in business is poor customer service. To magnify this fact, when customers are not satisfied with the level of service they receive after the sale, poorly handled relations can reverse all the effort and expense invested
There is a common custo
This world’s innovative technology can enable observers to see lifelike images that float deep inside and project several feet in front of a display screen.Dimensional Studios, a leader in 3D visual display solutions has recently introduced its unparallel
There is a common custom in which some couples chose to sign prenuptial agreements to protect individual assets. A prenuptial agreement refers to a contract signed by spouses before a wedding; the agreement defines their property rights and expectations upon divorce. The agreement is also used to waive certain spousal inheritance rights, establish designated alimony, or even waive alimony, under certain situations. Courts will usually respect such agreements if they are drafted properly.
If your objective is solely asset protection in divorce, whether it is premarital, gift, or inheritance, a prenuptial agreement may not be necessary. Simply keep the non-marital asset separate. And think long and hard before you invest any large asset in your partner's name.
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