| Valuation of Marital Property in Divorce Proceedings |
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| One of the most critical parts of the property distribution process in divorce is ensuring that the marital assets have been properly valued. Either an overvaluation or an undervaluation of the spouses' marital property can prevent the parties from receiving their fair share when their assets are divided. More... |
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| Fault-based Divorce: Insanity |
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| Insanity or mental illness is a ground for fault-based divorce in most states, while other states consider it a ground for no-fault divorce. Insanity is a state of mind in which the afflicted person cannot distinguish between right and wrong. It refers to the inability to handle individual responsibilities expected of ordinary persons in the daily course of life. An insane person may endanger his own life and that of others. More... |
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| Lump Sum Spousal Support |
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| Spousal support can be one of the most difficult issues to resolve in divorce. Spousal support, which is also referred to as alimony, involves an obligation by one spouse to make financial payments to the other spouse. Permanent spousal support involves the payment of support after a divorce is granted and until a further court ruling modifies or terminates the obligation. Permanent spousal support may be ordered in situations involving long-term marriages or in situations where one party cannot earn a living due to a disability or injury. Such spousal support can be paid in lump sum or on monthly basis. More... |
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| Jurisdiction and Venue in Annulment Proceedings |
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| The parties must establish proper jurisdiction and venue in order to initiate an annulment action. Usually, to obtain the jurisdiction and proper venue, the courts of the state where the parties were married have jurisdiction in an annulment action. In most states, if one of the parties wants to bring an action in a state court, that party must show that one of the parties has been residing in that particular state for the required period. Alternatively, a state has jurisdiction if either party has met that state's residency requirement. Venue is established if the party seeking the annulment of the marriage has met the domicile requirements within the court's jurisdiction. More... |
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| Valuation of Closely Held Businesses in Divorce Proceedings |
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| Generally, divorce cases involving thorny property issues can be complicated to resolve. This especially is true when the marital estate includes a closely-held business. A closely-held business usually presents one of two scenarios in the divorce context. The business may be tied to one spouse who is responsible for the business's success. Distribution of the business to one spouse often creates asset allocation and business valuation issues. It presents the problem of valuing the business and structuring the parties' assets and liabilities in order to provide the other spouse with a comparably valued property distribution. If the business depends on the operating spouse's good will and management, which many closely-held businesses do, then the true value can suffer under the emotional stress common in divorce even if the business is distributed to the key-person spouse. A business having one value when operated by the key-person spouse can have a far different value when distributed to the non-operating spouse. More... |
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