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The Battle Over Assets In A Divorce>
Wedding & marriage are often about sharing everything including generous gifts bestowed by parents or grandparents. But when a relationship ends in divorce, that perspective can change dramatically. At that point, however, it may be too late to keep inherited assets such as vacation homes, rare collections, monies and other gifts away from a former partner, even if those assets were never intended to go to that person. What is considered separate versus marital property can vary, depending on the state in which a couples lives. So called "Kitchen-Sink States" such as Vermont, Michigan, Massachusetts and Connecticut, for example,
don't typically distinguish between separate and marital property.
"You may be able to walk away with that ring your grandmother gave you, but the value of the asset will be considered in the division property."
While the financial outcome of a divorce may boil down to where you live, there are things you can do to help sway the outcome, especially when it comes to inheritances.
What's your thoughts and Strategies???.
Profound quote of the day> "Be As Pragmatic As Possible."
Wedding & marriage are often about sharing everything including generous gifts bestowed by parents or grandparents. But when a relationship ends in divorce, that perspective can change dramatically. At that point, however, it may be too late to keep inherited assets such as vacation homes, rare collections, monies and other gifts away from a former partner, even if those assets were never intended to go to that person. What is considered separate versus marital property can vary, depending on the state in which a couples lives. So called "Kitchen-Sink States" such as Vermont, Michigan, Massachusetts and Connecticut, for example,
don't typically distinguish between separate and marital property.
"You may be able to walk away with that ring your grandmother gave you, but the value of the asset will be considered in the division property."
While the financial outcome of a divorce may boil down to where you live, there are things you can do to help sway the outcome, especially when it comes to inheritances.
What's your thoughts and Strategies???.
Profound quote of the day> "Be As Pragmatic As Possible."