Split Flashcards
How does the process start?
One spouse files an original petition and then formally serves the other spouse or gets them to sign a waiver of service.
Then, the served spouse must answer within 14 days (counsel can file waiver for you)
insupportability
another way of saying no fault divorce
What is the next step after one spouse is served and answers?
Inventory and Appraisement exchange - listing out all your assets
Why do you think this amount is fair?
- House is worth less than $1 million
- Tiffany originally took $50k to buy the Prius and kept the leftovers to start an investment account that she’s been adding to by siphoning off money from her paycheck that normally went to our shared checking in full
- Certain assets equalize - your pension vs. my 401K
What if inventory and appraisement is not sufficient?
Formal discovery of assets is more expensive
What happens after asset inventory?
Settlement agreement (irrevocable or ISA). If you can agree on a settlement agreement through lawyers or mediation, you can avoid going to court