Marriage and cohabiting (living together)

Divorce and separation

Divorce – legal termination of marriage. It includes division of marital property and arrangements of child custody and support. An annulment treats marriage as though it never happened. Separation – 4 kinds: TRIAL SEPARATION – couple lives apart for a test period to decide whether or not to separate. All assets are considered as jointly owned. LIVING APART - spouse who no longer reside in the same dwelling. PERMANENT SEPARATION - when a couple decide to split up. It may follow a trial separation, or may begin immediately when the couple starts living apart. All assets are separate property. LAGAL SEPARATION – the parties separate and the court rules on the division of property, alimony, child support, custody, visitation – but does not grant a divorce.

Marriage and cohabiting (living together)

Marriage – legal union of two people.n

Marriage entails many rights and benefits. In most states, spouses are accordedthe right to:

· File joint income tax returns and state taxing outhority.

· Create a “family pertnership” allows you to devide buisiness income among family members

· create a marital life estate trust.

· Receive spouses and dependants Social Security.

· Recievr a share of your deceased spouse’s estate

· Claim an estate tax marital deduction

· Sue a third person for wrongful death of your spouse and loss of consortium

· Sue a third person of offensesthat interfere with the success of your marriage.

· Receive family rates for insurance

· Avoid the deportation of a non-citizen spouse

· Live in neighborhoods zoned for families only.

· Make medical decision about your spouse.

Requirements to marry:

· The age of concent (18)

· Not closely related to your spouse

· Having the mental capacity

· Being sober at the time of marriage

· Not being married to enyone else

· Getting a blood test

· Obtaining a marriage lcence.

CoHABATION

If you haven’t been together long and don’t own much you don’t need a contract covering who owns what. But if you accumulate too many property you do need.

It’s really important to make a written property agreement if you buy a house together: how much of the house does each of you own; what happens to the house if you break up; how long will the buyout take and how the title to be listed in the deed - One choise is joit tenant with the right of survivorshop – one doeis the other inherits th whole house automatically and another ortion is tenants in common-when one of you dies the share of the house goes to whomever is named in a will or trust or blood relatives…. In case parents make more money then you – the property agreement shoul over who is entitled to her income and the items we purchase.

Дата добавления: 2015-07-25