Property Division in a Divorce Proceeding Flashcards
1
Q
What is the rule in the majority of states?
A
Marital property is divided at divorce but separate property remains the property of the owning spouse.
2
Q
What is marital property?
A
Property acquired during the marriage
3
Q
What is separate property? (BIG)
A
Property acquired Before marriage, Inheritance, and a Gift to one party.
4
Q
Do most states count professional degrees earned during the marriage as marital property?
A
No.
5
Q
Can a division be based on a premarital agreement?
A
Yes as long as it is voluntarily made, substantively fair, and if full disclosure of assets and obligations were made.
6
Q
When will a court not enforce a premarital agreement?
A
If it is regarding child custody or support and it is not in the best interest of the child.
