Posts Tagged ‘separation agreement’
Divorce and Capital Gains Tax
Internal Revenue Code sec. 1041 provides that where an asset, otherwise subject to capital gains tax, is transferred from one spouse to another pursuant to a court order, such as by decree of dissolution or divorce, no gain is recognized. This means that if a husband transfers a house to his ex-wife as part of…
Read MoreValuing Marital Assets Accurately–Extremely IMPORTANT!!
One of the most important aspects of your divorce (besides custody of your children, of course) is to have correct valuations of marital assets. Your attorney has the very important job of investigating, valuating, and objectively inventorying all marital assets. Some assets have a readily ascertainable value, such as a bank account, publicly traded…
Read MorePaying Spousal Support (Even After You Die) R.C. 3105.18(B)
According to Ohio Revised Code section 3105.18(B), “Any award of spousal support made under this section shall terminate upon the death of either party, unless the order containing the award expressly provides otherwise.” While this topic may seem to be a common-sense approach, sometimes providing for the care of a spouse following the death of…
Read MoreWhat constitutes Separate Property in Ohio?
Separate Property is defined as all real and personal property, and any interest in real or personal property that is found by the court to be any of the following: An inheritance by one spouse by bequest, devise, or descent during the course of the marriage; Any real or personal property or interest in…
Read MoreReconciliation After Your Divorce Filing: I’ve Changed My Mind
If, at anytime before the final hearing date, you change your mind and conclude that the divorce proceedings are not right for your family, you can stop them. By filing a Notice of Voluntary Dismissal, the court will consider the case to be closed. If an attorney represents you, it is important that you contact…
Read MoreSeparation Agreements and the Second Opinion
If you are a parent who is not primarily responsible for the routine health care of your child, it is advisable that you include a common sense “second opinion” clause in your separation agreement. The second opinion clause is a provision allowing the non-residential parent to obtain another medical diagnosis for any proposed non-emergency medical…
Read MoreHow Can A DUI Affect Your Divorce?
A DUI during Divorce can cost you more than just your life… If you are involved in a custody dispute, or have a vindictive spouse who would like to start one, a DUI/OVI conviction can be used against you in domestic relations court. Automatic license suspensions may make it difficult to exercise visitation with your children. …
Read More