3. Economic Issues Surrounding the Breakup of a Marriage

Question 1

What is the term for Continuing monetary payments post termination of the marriage?

Answer 1

Maintenance

Question 2

Tipperary Maintenance

Answer 2

Maintenance while the action is pending

Question 3

How is post judgment maintenance determined?

Answer 3

Purely in the equitable discretion of the judge guided by a statute listing factors:

1. The age and health of the parties
2. Earning capacity, education timeline to develop job skills
3. If either spouse is going to be the custodian of minor children
4. Duration of the marriage

Question 4

When does maintenance automatically terminate?

Answer 4

1. Upon the death of either party.

2. If the receiving party cohabitants with or remarries another.

Question 5

What happens if you do not pay maintenance that you are required to pay?

Answer 5

1. Your wages can be attached
2. Seize your property
3. Take away drivers license
4. Take away your license to practice your profession
5. Take away recreational licenses
6. Hold you in contempt of court

Question 6

How is the property divided?

Answer 6

Equitable Distribution:

1. Categorize the assets
2. Engage in a distribution of the assets

Question 7

Three categories of property

Answer 7

1. Husband’s separate property
2. Wife’s separate property
3. Marital assets

Question 8

What qualifies as separate property?

Answer 8

1. Any property owned by a spouse prior to the marriage
2. Any gift or inheritance received after the marriage in your sole name
3. Any property they agree to treat as separate
4. Pain and suffering recoveries from a personal injury suit
5. Any passive appreciation on any of the previous things