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Impact of Remarriage on Estate Planning and Inheritance
https://legiswiki.com/en/p/10178/impact-of-remarriage-on-estate-planning-and-inheritance
Remarriage can significantly affect estate planning and inheritance, impacting both the distribution of assets and the rights of beneficiaries. Here are some key considerations: 1. Estate Plan Updates Remarriage often necessitates updating an existing estate plan to ensure it reflects the new famil...
Examples of Marital Property Subject to Equitable Distribution
https://legiswiki.com/en/p/10019/examples-of-marital-property-subject-to-equitable-distribution
Examples of marital property subject to equitable distribution include a wide range of assets and income acquired during the marriage, regardless of whose name is on the title or account. Common examples are: Real estate and personal property purchased during the marriage, such as the marital home,...
Role of Contributions by Each Spouse in Equitable Distribution
https://legiswiki.com/en/p/10022/role-of-contributions-by-each-spouse-in-equitable-distribution
The role of contributions by each spouse in equitable distribution is central to how courts determine a fair division of marital property during divorce proceedings. Contributions are broadly understood to include both economic (financial) and non-economic (non-financial) efforts made by each spouse...
Elective Share Rights in New York Estates
https://legiswiki.com/en/p/10175/elective-share-rights-in-new-york-estates
In New York, the Elective Share is a legal right that protects a surviving spouse from being completely disinherited by allowing them to claim a statutory portion of the decedent’s estate, regardless of the will’s provisions. This right is governed by New York’s Estates, Powers and Trusts Law (EPTL)...
Distinction Between Marital and Separate Property in Utah
https://legiswiki.com/en/p/10016/distinction-between-marital-and-separate-property-in-utah
The distinction between marital property and separate property in Utah is fundamental to how assets and debts are divided in a divorce. Marital Property in Utah Definition: Marital property generally includes all assets and debts acquired during the marriage, regardless of whose name is on the titl...
Handling of Separate Property and Commingling Issues in Utah Divorces
https://legiswiki.com/en/p/10020/handling-of-separate-property-and-commingling-issues-in-utah-divorces
In Utah, property division during a divorce involves understanding the distinction between separate property and marital property, as well as the concept of commingling. Separate Property Definition: Separate property includes assets acquired before marriage, gifts, inheritance, and property exclu...
Treatment of Debts in Utah's Equitable Distribution Framework
https://legiswiki.com/en/p/10027/treatment-of-debts-in-utahs-equitable-distribution-framework
In Utah's equitable distribution framework, debts incurred during the marriage are treated as marital debts and are subject to fair division between spouses upon divorce. The key points regarding the treatment of debts are as follows: Marital vs. Non-Marital Debt: Debts acquired during the marriag...
How Retirement Accounts and Investments Are Divided in Utah
https://legiswiki.com/en/p/10028/how-retirement-accounts-and-investments-are-divided-in-utah
In Utah, the division of retirement accounts and investments during divorce follows specific legal principles and procedures designed to ensure equitable distribution of marital assets. Retirement Accounts Division: Qualified Domestic Relations Order (QDRO): To divide retirement funds such as 401(...