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MEE Family Law > Property Division and Alimony > Flashcards

Property Division and Alimony Flashcards

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1
Q

What are the three approaches to property division?

A
  1. Community property
  2. Equitable division of all property
  3. Equitable divisoin of mariage property (majority apporach)
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2
Q

community property

A
  • Marital property (property acquired during marriage) owned one-half by each spouse
  • Property brought into marriage or acquired by gift or bequest is seperate property
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3
Q

What is the two-step process to property division?

A
  1. Classification: what is marital property and what is separate proeprty?
  2. Division: how to divide property equitably?

*Equitable does not mean equal
*Property distribution decress are NOT modifiable

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4
Q

seperate property

A
  • Property owned before marriage
  • Property acquired by gift or inheritance
  • Property acquired in exchange for separate property
  • Income and appreciation of separate property
  • Pain and suffering awards
  • Property acquired after legal separation
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5
Q

marital property

A
  • Property acquired during marriage
  • Earnings
  • Employment benefits, pensions, and stock options
  • Lost wages
  • Reimbursment for medical bills
  • Recovery for damages to marital property
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6
Q

comingling

A

Seperate property is inextricably intertwined with marital property or with separate property of other spouse so that it cannot be traced

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7
Q

transmutation

A

Separate property is treated in a way that evidences an intention for the property to be marital property

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8
Q

How do courts view improvements to seperate property with marital funds?

A

Remains seperate proeprty but may grant the estate/nonowning spouse reimbursment for value added (but not due to market factors)

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9
Q

How do courts treat property acquired before the marriage but paid for after?

A

Majority view: property should be apportioned between separate and marital estates in proportion to contribution of separate and martial funds to pay for property

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10
Q

How do courts treat pensions?

A

Portion earned during marriage is martial property subject to distribution

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11
Q

How do courts treat professional licenses or degress?

A
  • Not distributable proeprty
  • May be considered in alimony to compensate for contribution durong sposue’s education/training
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12
Q

Factors re: Equitable Division

A
  • Age, background, earning capabilities
  • Duration of marriage
  • Standard of living during marriage
  • Present income, vocational skills, employability
  • Source of money used to purchase property
  • Health of parties
  • Assets, debts, and liabilities
  • Needs
  • Child custody provisions
  • Distribution in lieu of alimony
  • Contribution of acquisition
  • Contribution as homemaker
  • Economic fault

Marital fault is generally not considered

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13
Q

Types of Alimony

A
  1. Permanent periodic spousal suport
  2. Lump sum
  3. Rehabilitative spousal support
  4. Reimbursment spousal support

Courts have great discretion in granting a specific type or amount of alimony

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14
Q

permanenet periodic spousal support

A
  • Paid regularly (ex: monthly) to support a spouse who has neither the resources nor ability to be self-sustaining
  • Duration: indefinite
  • Modification: proof of substantial change of circumstances
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15
Q

lump sum spousal support

A
  • Fixed amount payable all at once or via a series of payments
  • Duration: specific period of time
  • Modification: none, treated as contract
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16
Q

rehabilitative spousal support

A
  • Periodic payments for a limited time to enable spouse to gain skills to become self-supporting
  • May be ordered along w/ permanent periodic or lump sum payment
  • Duration: specified timeperiod, unless modified by court
  • Modification: proof of substantial change of circumstances
17
Q

reimbursment spousal support

A
  • Occasionally awarded to spouse who supported the other spouse while the latter obtained a professional license or degree
  • May be ordered along with permanent periodic or lump sum alimony
  • Duration: for a specific period of time (lump sum or installments)
  • Modification: none, treated as contract

Based on the spouse’s contribution, NOT the value of the license or degree

18
Q

Factors re: Alimony

A
  • Standard of living during marraige
  • Duration of marriage
  • Age and physical and mental condition
  • FInancial resources of parties
  • Contribution to marriage
  • Time needed for party seeking support to obtain training or employment
  • Ability of payor spouse to meet own needs
  • Martial fault

Broadly: needs of the spouse vs ability of other spouse to pay

19
Q

Tax Consequences of Alimony

A
  • Current law: not a taxable event
  • Pre-2019: payments are deductible by pator and taxabe to payee (but instrument may be modified to follow current law)

MEE Family Law (7 decks)

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