Marital Assets

News & Analysis as of

LLC Preferred Interest Qualifies For Marital Deduction

In a recent private letter ruling, the question was raised whether an LLC interest that received a preferred return with additional LLC cash flow going to other common interests could qualify for the marital deduction if...more

Transfers to Non-Citizen Spouses: Planning Considerations

Estate planning professionals commonly encounter married couples with mixed nationalities. That is, one spouse is an American citizen and the other is not. The U.S. estate and gift tax rules are generally the same for U.S....more

California Court Issues Non-Competition Order

Covenants not to compete have been in legislative disfavor in California since 1872. This animus is currently codified at Section 16600 of the Business and Professions Code which provides that with certain statutory...more

What Stipulations Can Be Included in a Premarital Agreement?

Just as there are many reasons why a couple may choose to enter into a premarital agreement, the issues they cover can vary significantly. California law has relatively few limitations for these contracts, as long as they do...more

Search And Declare: Seeking Hidden Assets In Divorce

The financial principle of all divorces in Florida is equitable distribution of marital assets. People facing divorce frequently dwell on the first word of this phrase, “equitable,” with their legal counsel thrashing out what...more

Divorce In The Golden Years

Paul Hogan is best remembered for his roles as a lovable wildlife wrangler in the Crocodile Dundee film franchise of the 1980s. At 74 years old, Hogan’s days of ‘gator grappling are largely over....more

Monthly Disability Payments Not Considered Marital Property

In 2011, the Pennsylvania Supreme Court decided the case of Focht v. Focht, 32 A.3d 668 (Pa. 2011), which resolved prior conflicting case law on the issue of whether an award or settlement proceeds from a personal injury...more

Equal Tax Treatment for Same-Sex Couples in the Wake of Recent Supreme Court Ruling and IRS Guidance

Same-sex marriages now are being recognized under federal tax law for the first time. In June 2013, the Supreme Court released its decision in United States v. Windsor, 530 U.S. 12 (2013), declaring Section 3 of the federal...more

What Finances Must Be Disclosed in a Divorce?

Often, one spouse pays the bills and does the bookkeeping for the family. While this can be practical, it can leave the other spouse with little knowledge of the family’s financial situation. For this reason, a spouse might...more

Gray Divorce: Divorce After 50

According to the National Center for Family & Marriage Research at Bowling Green State University, Ohio, the divorce rate for couples over age 50 has nearly doubled during the past 20 years. Divorce at any age is complicated,...more

Divorces, Community Property and Patents — the Problem of the Ex-Spouse

Many universities have standard patent assignment agreements that assign inventions of a university employee to the university. But what if the inventor is married? Or, what if the inventor marries during his or her...more

Divorce: Finding Offshore Assets

One of the more important issues in a divorce proceeding is identifying and dividing community and separate property. The task of asset identification and location may have been made both easier and more complex at the same...more

A Diamond May Be Forever, But What Happens to it When There is a Divorce?

On October 21, 2013 news spread around the Bay Area when Kanye West rented out AT&T Park and proposed to girlfriend, Kim Kardashian, with a 15-carat sparkler. The ring was a flawless emerald cut diamond designed by Lorraine...more

Don’t Love Anything That Can’t Love You Back

Divorce is emotionally and financially complicated, but when the emotions and finances start influencing each other, this is a recipe for emotional and financial disaster....more

What Happens if You Divorce During Bankruptcy Proceedings?

The state of Georgia has the eighth-highest divorce rate in the United States. Our state also outpaces the rest of the nation in unemployment (8.6 percent, compared to 7.6 percent as of June 2013). We don’t think these...more

How do I know if an asset is really my sole and separate property?

In the State of Arizona, any and all property is presumed to be community property. However, property is characterized at the time of its acquisition and therefore, if you owned property prior to your marriage, it is and...more

Do I have to Disclose Everything to the Other Party and/or the Court?

Under current Arizona law, you must make full disclosure to the other party and the Court. The Arizona Rules of Family Law Procedure require that everything which may have an impact on the outcome of the case be disclosed -...more

Emergency Points if a Divorce is Impending: Financial Accounts and Personal Property

When you are contemplating a separation from your spouse, it is important to consider whether or not actions need to be taken to prevent dissipation of assets by your spouse prior to a final resolution of your case. You...more

Marriage, Divorce and Your Business

If you own a business, or any asset for that matter, and you intend to marry or divorce, you need to read this. Virginia is not a community property state. But it is an equitable distribution state. What does that...more

Tax Issues When Dividing Marital Property Pursuant to a Divorce: Part 2

This week my very smart colleague Jen Green is back with Part 2 in her series of important tax issues that need to be considered when dividing marital property during a divorce. ...more

Tax Issues When Dividing Marital Property Pursuant to a Divorce: Part 1

I’ve written before about the emotional roller coaster that can come along when it’s time to divide assets during the divorce process. Today my colleague Jen Green offers the first of several tax rules – and their...more

Life Insurance After Divorce

During marriage, a very typical scenario is for spouses to name each other as the beneficiary to each person’s individual life insurance policy. Once a divorce is commenced, a beneficiary designation cannot be changed until...more

Protecting Separate Property in Arizona: Basic Principles [Video]

Phoenix business law firm Jaburg Wilk's Board Certified Family Law Specialist, Mitchell Reichman discusses best practices in protecting separate property in Arizona. He talks about various family topics such as community...more

Why Arizona Business Owners Need A Premarital Agreement

Arizona is a community property state which means all property acquired by either spouse during the marriage is, by statute, presumed to be community property. ...more

Tips to an Expensive Divorce

Wikipedia defines reverse psychology as “a technique involving the advocacy of a belief or behavior that is opposite to the one desired, with the expectation that this approach will encourage the subject of the persuasion to...more

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