How are assets and liabilities divided in a divorce?
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How are assets and liabilities divided in a divorce?
When you get divorced, community property is generally divided equally between the spouses, while each spouse gets to keep his or her separate property. Equitable distribution: In all other states, assets and earnings accumulated during marriages are divided equitably (fairly) but not necessarily equally.
How do I protect my assets before divorce?
Steps to Protect Assets from DivorcePut together all of your financial records for the past three years.Make copies of your bank, investment and retirement accounts.Set up an offshore trust and international LLC.Set up an international bank account in the name of the LLC.Establish credit in your own name.
How long does it take a lawyer to prepare divorce papers?
It will take one to two weeks for a lawyer to draw up a petition for divorce. And, according to Justia, once your spouse has been served, they have anywhere from 20 to 60 days to respond.
