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Difference between revisions of "Property and Debt in Family Law Matters"
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Property and Debt in Family Law Matters (view source)
Revision as of 05:56, 20 April 2013
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===Avoiding unfairness=== | ===Avoiding unfairness=== | ||
The tax consequences of a particular arrangement in a court order or separation agreement can be taken into account when property is being divided, since the payment of tax by one party may fundamentally change the fairness of the agreement or order. Consider | The tax consequences of a particular arrangement in a court order or separation agreement can be taken into account when property is being divided, since the payment of tax by one party may fundamentally change the fairness of the agreement or order. Consider this example. | ||
<blockquote>Say Eli receives $100,000 in cash and George receives a rental house worth $100,000, and the cash and the rental house are all part of the family property. At first glance, this seems like a fair, equal split of the family property, which together comes to a total of $200,000. In fact, it isn't.</blockquote> | <blockquote>Say Eli receives $100,000 in cash and George receives a rental house worth $100,000, and the cash and the rental house are all part of the family property. At first glance, this seems like a fair, equal split of the family property, which together comes to a total of $200,000. In fact, it isn't.</blockquote> | ||
