Divorce Flashcards
1
Q
Divorce - Rule
A
Each asset/liability is divided equally
2
Q
Divorce - 3 Exceptions to Rule
A
- Disparate Earning Power: only considered as to spousal and child support.
- Economic Circ’s: non-pro rata division that cashes out other spouse (residence, close corporation, pension)
- Statutory Exceptions
3
Q
Divorce - Statutory Exceptions to Rule
A
- One spouse misappropriates CP
- Ed debt
- Tort liability
- Personal injury award
- Negative community (look to payment ability to protect creditors)
