How are savings divided in a divorce?

How are savings divided in a divorce?

In divorce, all assets fall into one of two categories: Your savings account is either your separate property or it’s marital property. It’s separate property if you opened it before you got married, if someone gave the money specifically to you, or if you inherited the funds. Marital property is.

How do spouses hide money in a divorce?

Unfortunately, some spouses attempt to hide assets before or during a divorce in order to avoid sharing them with to their soon-to-be ex. However, divorcing spouses in all states can use powerful legal tools, called “discovery,” to help them find hidden income and other assets (discovery is explained in detail below).

How are any assets held overseas treated in a divorce?

How are foreign assets divided? If you are getting divorced in England or Wales, once the valuation has been obtained then the foreign asset will be considered under the same legal principals that determine the division of all other assets, with the starting point being equality.