. You cannot use more than half of the Family Law Value to satisfy your equalization payment. The appellate court presumed the decree to be fair and equitable. Offers FREE consultation! Posted on Jul 15, 2016. Ask if the pension follows provincial or federal rules 2. A property settlement agreement lays out each party's assets and liabilities post-divorce. Can one spouse decide to reconvert the joint property to community. Community waste is a term that is used in divorce to claim an equalization payment from your former spouse for funds that were wasted on items or persons during that marriage that did not benefit the community. 229, 508 P. 3d 1082 (1999), the appellate court considered a promissory note signed. Our family law firm has earned numerous awards such as US News and World Reports Best Arizona Family Law Firm, US News and World Report Best Divorce Attorneys, “Best of the Valley” by. No. 4) Selling your house after divorce may be more difficult due to a lack of cooperation from a spouse due to hurt feelings stemming from the divorce litigation. (Despite the name, this kind. Apply to divide your pension, if needed. In divorce proceedings, personal property must be allocated as either the separate property of one spouse or the marital property of both spouses. dividing paid time off in a divorce in arizona; equalization payments in an arizona divorce; omitted assets in an arizona divorce decree; crsc pay and divorce in arizona; judgment for separate property stolen during marriage; judge ignores a business appraisal in an arizona divorce; reimbursement of separate property in a divorce in arizona In those cases, a couple of options exist for you. 175, 382 P. In divorce agreements created on or after January 1, 2019, or those modified after that date, maintenance payments are not deductible by the payor or included in the payee’s income. Or, a. In Vance-Koepnick v. The Arizona Court of Appeals ruled Arizona Revised Statute section 12-1119 allows a person to file and record a lis pendens in any lawsuit that could affect title to a home or other real estate. Finally, the court decided the remaining money will be divided equally between the husband and the wife. The. Our Arizona divorce attorneys have over 100 years of combined experience successfully representing clients in divorce cases in Arizona. Bobrow, 241 Ariz. Level 15. Q&A Asked in Sacramento, CA | Jun 15, 2010 Save My ex was ordered to pay. The Court of Appeals found it to be irrelevant whether the Husband did or did not have a claim for an equitable lien against the home. In Arizona, a spouse signing over property by quitclaim generally gives up all interest in it. Divorce and alimony calculator. The Arizona Court of Appeals in the case of Schickner v. Our family law firm has earned numerous awards such as US News and World Reports Best Arizona Family Law Firm, US News and World Report Best Divorce Attorneys, “Best of the Valley” by Arizona Foothills readers, and “Best Arizona Divorce Law Firms” by North Scottsdale Magazine. equalization payments in an arizona divorce; omitted assets in an arizona divorce decree; crsc pay and divorce in arizona; judgment for separate property stolen during marriage; judge ignores a business appraisal in an arizona divorce; reimbursement of separate property in a divorce in arizona;The Court of Appeals also noted the parties’ agreement required Husband to pay Wife a property equalization payment of $500,000. For example, if one spouse came into the marriage with $100,000 and didn't increase or decrease their savings, and the other came into the marriage with no money or debts, but had a net family property after of $500,000 at the dissolution of the marriage, the second spouse could owe the first $250,000 as an equalization payment. Therefore, the wife should be liable for half of the community debt omitted in the divorce decree. The personal representative’s reliance on In re Estate of Griswold, 13 Ariz. The court awarded assets totaling $184,843 to wife and $215,211 to the husband. Earnings of either spouse during a marriage are community property in Arizona. The next section explains how to calculate an equalization payment. A surviving spouse’s share of community property is subject to administration for payment of community claims. Call Now (480)305-8300Call Today ! 480-507-6677. 00 each of the $100,000. Here are some questions and answers concerning various issues in Ohio regarding alimony or. When they do, couples may think that the. Collect your family law judgment. The four premises of value Arizona court’s may apply to a business appraisal in a divorce case are the “going concern premise,” “value of the assets premise,” “value of the sale of the assets premise,” “value of the assets in an expedited liquidation premise. Failure to Pay Spousal Maintenance. Serra a large equalization payment worth over $4 million dollars. Washington is a no-fault state and one spouse or the other only needs to claim that a marriage is “irretrievably broken” to start the divorce. Czarnecki filed for a divorce from Mr. equalization payments in an arizona divorce; omitted assets in an arizona divorce decree; crsc pay and divorce in arizona; judgment for separate property stolen during marriage; judge ignores a business appraisal in an arizona divorce; reimbursement of separate property in a divorce in arizona;Segregating Separate Property From Community Property Explained By the Experienced Scottsdale Arizona Divorce Attorneys at Hildebrand Law, PC. Barron addressed those issues. Separate property in Arizona is classified as any property owned by a spouse before marriage or any property owned by a spouse after a divorce decree has. To simplify things, the end result of Ontario’s family property division is an equalization payment by the spouse with the greater net family property value acquired during the marriage to the spouse with the lower net family property value. However, the Court of Appeals said, under. Estimate your spousal and child support, and division of assets and debts. Bankruptcy and divorce: Equalization payment introduction. Nothing can be more satisfying than winning a personal injury case and receiving compensation for your losses from the incident. It noted that, under Arizona law, it is the superior court’s job in a divorce to divide all community property held by a couple. Message. However, special circumstances exist in certain cases of military benefits, such as Combat-Related Special Compensation payments and other forms of military disability payments that may not be divided in an Arizona divorce. Pfeffer held that a creditor might come after community assets but usually cannot come after the separate property of a spouse to pay a community debt. For spouses who own and operate a business in Arizona, divorce will have direct and indirect consequences. Teach About Equalizing Payments in an Arizona Divorce From the Experienced Arizona Divorce Attorneys by Hildebrand Law, PC. If so, is that in exchange for cash, equalization payments over time, a greater portion of the other’s retirement fund, maintenance, the marital home?. In order to equalize the. Alimony, for example, is a separate concept and will be calculated and ordered independent of the division of property. For example, let’s say you’re entitled to receive $500 per month based on your work history. If you are reading this article, you probably know that CSRC refers to Combat-Related Special Compensation pay. Anderson, 256 P. If you have questions about sharing a personal injury settlement in an Arizona divorce. Call us today at (480)305-8300 or reach out to us through. Stewart Law Group is very proud to be recognized as among the top divorce and child custody law firms in Phoenix and the Valley. Even if you divided everything informally when you separated, a judge still needs to make a formal order about these issues. In general, the payments may not last longer than: 50% of the length of a short-term marriage (lasting less than 10 years) 60% of the length of a moderate-term marriage (lasting between 10 and 20 years), or. The Court of Appeals affirmed the judgment below. Website. Liquid. This would tend to suggest that Arizona is a 50/50 state in a divorce. For example, Adam and Eve divorce. Chapter 13 does not have the same limitations as Chapter 7 as Section 523 (a) (15) does not apply to a Chapter 13 bankruptcy filing. The Family Law Act says that the person who has the higher total has to pay the person with the lower total half of the difference between them. Jean had a car worth $24,000, a car loan of $6,000, plus other personal assets. It sent the case back down to the divorce court to apportion the $79,000 between separate and community property. The short answer to the question can there be waste of the equity in a marital home in Arizona is, yes, the court will recognize a claim of waste of the equity in a home. Make an agreement or apply to court. This means that you do not pay the lawyer a fee. However, a couple can formally agree to hold real property as joint tenants. Bruce Smith (Husband) Amount. And the Parliament has to take action. Life insurance orders. § 767. App. Often, one of the parties is obligated to pay the other party an “equalizing payment. M. 2375 E. Remember, these are the states where assets are to be. Study with Quizlet and memorize flashcards containing terms like Jean and Eric live in a province that calculates an equalization payment for the division of matrimonial property. published October 31, 2022 If you are in the process of getting divorced, you know that you’ll need to come to an agreement with your spouse on how to deal with debt and. Often a “catch-all” provision in the decree. You should contact Mr. The Arizona Court of Appeals found that Rule 33 (A) of the Arizona Rules of Family Law Procedure allows a divorce judge to permit a party to a divorce case to make a statutory legal claim against a third party related to the divorce case. Is a Spouse’s Separate Property Liable for Community Debts. Property settlements that result in large cash equalization payments in divorce are often paid over time in installments, with interest. 416. The state has an average of 20,000 divorces annually, with around 10% of those cases going to trial. The. Unfortunately, and all too often one of the parties does not comply with Court orders. Can a lender/creditor require payment of a debt even if a court order says the opposing party has to pay in the divorce? Yes. Matteson, 45 Ariz. Aug 14, 2015 | Custodial Evaluations, Custody, Divorce, Experts, Legal Decision-Making, Parenting Time, Teens. Mr. One solution is to have the spouse who gets the more valuable asset make what's known as an equalization or equalizing payment to the other spouse. In Barron, Husband requested an equalization payment from Wife. This can be helpful if you have to make an equalization payment to your spouse. Alternatively, you may want to talk to a bankruptcy attorney; under some circumstances, equalization payments can be discharged in bankruptcy. It’s easier said than done, but the best scenario by far is to pay off your debt before or during the. Propose an Alternative. Your ex is entitled to receive $2,000 per month based on theirs. The Arizona Supreme Court agreed with the trial court’s decision that the interest in the ranch was husband’s separate property. My divorce judgment is a lump sum buyout for property and spousal support to be paid out over several years. but NOT IRAs. Serra owed an equalization payment that was greater than his net worth. After a bench trial, the district court entered a Decree of Divorce. Generally, a property that is acquired separately remains separate during the marriage. I remember being quite satisfied with my final divorce settlement agreement. Property and debts can be distributed in a divorce or legal separation. Transfer to Satisfy Obligation for Equalization Payment. In Stevens v. Martin $46,688. ) What is an equalization payment? An equalization payment is a sum of money equal to one-half of the difference in the value of the assets received by the other party. Email: [email protected] Court of Appeals agreed. S. 2. Learn About Equalization Payments in einem Arizona Divorce For the Learned Arizona Divorce Attorneys at Hildebrand Law, PC. In the decree of dissolution, the trial court divided the parties’ community property. This effectively means that any debt that is a divorce-related debt will be non-dischargeable if you file a Chapter 7 Bankruptcy. STEP ONE: CALCULATING EQUALIZATION PAYMENTS. Thank you. It awards half of that amount to the nonemployee spouse in the form of equivalent property. Lee owned to address the issues of equalization payments for the division of a business in a divorce in Arizona and whether a court can modify a business appraisal based on a change inches to income other expenses of that business based up the court. Arizona Divorce: Dividing Business Profits. ) $55,000. dividing paid time off in a divorce in arizona; equalization payments in an arizona divorce; omitted assets in an arizona divorce decree; crsc pay and divorce in arizona; judgment for separate property stolen during marriage; judge ignores a business appraisal in an arizona divorce; reimbursement of separate property in a divorce in arizona An equalization payment is a payment made by one party to the other in a divorce settlement where the party making the equalization payment receives a higher amount of the marital assets. The husband was serving in the military with his wife filed for divorce. Regardless of the animal’s unique role in the family, pets are personal property. If one spouse has a pension when the relationship comes to an end, it’s value will be shared, or equalized. They have a child, and then two more. 2d 659 (1963). Dividing business profits during a divorce in Arizona can be a very complicated issue. S. Under A. It’s also things like a bank account, pension, 401k, or stocks. Arizona law requires marital property to be divided “equitably,” which is defined as being substantially equal. For example, some judges may order one spouse to pay the other spouse an equalization payment if the physical division of assets is not fair or equitable. In some cases, however, it transmutes to. This is sometimes called a motion for enforcement or contempt. This is going to mitigate some of those hard feelings your spouse may have about your decision to remove money from financial accounts. The value of most assets can be easily determined by reference to current fair market value. Rather than a lump sum, the spouses. Thus, the receiving party “pockets” the entire amount. Call Now (480)305-8300 Equalisation Wages in on Arizona Divorce | Hildebrand Law, PC The Arizona Court of Appeals ruled Arizona Revised Statute section 12-1119 allows a person to file and record a lis pendens in any lawsuit that could affect title to a home or other real estate. Arizona law specifies that a trust deed on community property is not valid unless both spouses execute and acknowledge it. Arizona is a No-Fault divorce state, so the court gives very little. Beneficiary Designations After Divorce in Arizona From Hildebrand Law, PC. Usually, judges will assign each spouse a percentage of the total value of all the couple's marital property (sometimes called the marital or community estate), minus their debts. However, a failure to fully consider the tax mechanics of an installment plan often results in additional, unexpected tax liability. Just so, during a marriage, loss of a spouse’s earning capacity means lost income to the community. A Detailed Guide on the Arizona Divorce Timeline. comAt its core, the equalization process simply means that while an equitable distribution of assets will occur, it may NOT actually result in a 50/50 split of those assets. Attorneys benefit greatly from this post-divorce angst and may even perpetuate conflict through court motions and motions for contempt. We get a lot of questions about the division of marital assets. We will refer to this as the “AP Offset. Hutki answered that question. This information applies if a Plan member's court order, family arbitration award or domestic contract was signed or executed prior to January 1, 2012. . One possible resolution is through equalization payments, where one spouse is allowed to retain certain assets, and the other receives a monetary payment to make. You may allow your ex to retain ownership of a mortgage-free home that. She's getting a divorce, she's in default on her student loans — and the two issues are more related than it may seem. Arizona law recognizes that spouses can transmute separate property into community property by commingling community money with sole and separate money. Equalization issues may occur on certain circumstances such as divorce and separation, joint ownership, and multiple tax districts. S. Schickner addressed whether the profits of a business earned between the date the Petition for Dissolution of Marriage i s served on the other spouse and the date. In a Ch. Underestimating Your Post-Divorce Expenses. Part of your divorce involves dividing your property and debts. Get the pension valued 3. This payment was subject to statutory interest of 10% per annum, accruing from the date of. The first step in calculating your equalization payment for your divorce is to make a list of all of your assets. The two have agreed to share joint and legal physical custody of. Call: 480-507-6677 Home; About; Family Law Overview. However, it is still within the judge’s. § 25-319, courts consider a variety of factors when they decide whether to grant a spousal maintenance request,. 2d 508 (1970) is misplaced. Property Equalization Remuneration for an Business and Other Property. After Decedent’s death in 2012, Kroncke requested the IRA proceeds from Schwab. The trial courts have great discretion to order equalization payments paid under such terms that are just and reasonable. The Arizona Court of Appeal in a memorandum decision discussed the relationship between the division of debts and spousal maintenance in an Arizona divorce in the case of Carroll vs. ¶3 In January 2007, the parties signed a handwritten agreement addressing, among other things, additional payment terms for the $300,000 equalization debt. When your marriage ends, the full value of the family home must be. Calculate the present value (PV) of the AP Offset. The exception to this general rule would occur if both spouses signed, for example, a. Attorney Douglas Gardner Shares Considerations Regarding Financial Issues Common in Arizona Divorce Cases and Compares the Tax Treatment, Modifiability, and Bankruptcy Treatment of Child Support, Spousal Support, and Property Equalization Payments. Temporary alimony is typically awarded while a divorce is pending. First, add up the value of all the property you owned on the day you got married. 45 which amounted to 10% of the full. Rather, the court will divide property between spouses in a way that it considers fair. We want to talk about the effect of improvements to separate property in an Arizona divorce by discussing the Arizona Court of Appeals’ decision addressing what impact improvements to a spouse’s separate property has on a divorce in Arizona. An equalization ensures that taxes for taxable properties are uniform across different districts. The order. this is called an equalization payment, and in the case of businesses and real estate, the equalization payment can be rather daunting. The pandemic has taken a toll on couples both financially and psychologically, which has actually triggered many to consider going for separation and maybe even filing for bankruptcy. In order to equalize the. A division of the community property and debts, including an equalization payment, in a Judgment or Marital Settlement Agreement is not dischargeable in a Chapter 7, but may be discharged to some extent in a Chapter 13. (805) 387-9921. Of course, when we're talking about property division in divorce, that doesn't mean physically splitting each asset between the spouses. Disposition. Any community property that is not mentioned in a divorce decree is transformed into property held as tenants in common. Ask if the pension follows provincial or federal rules 2. Separation and Divorce Pre-2012 Rules. However, any money earned or assets acquired before marriage by a spouse is the separate property of that spouse. In the majority of cases, a fair division will be an equal (50/50) division. If at the end of your divorce (in your Judgment ), the judge ordered your spouse to pay you money or split the money from the sale of something, you will need to collect the money yourself. Equalization Payments. For example, if a spouse can prove that separate property was used to make a down. Its purpose is to address fiscal disparities and promote economic equality by providing additional funds to less prosperous regions. The Short Answer. has over 26 years of Arizona family law experience and received awards from US News and World Report, Phoenix Magazine, Arizona Foothills Magazine and. Cleary to discuss the specifics of your case. If an individual’s lifestyle is beyond the disclosed level of income capacity. dividing paid time off in a divorce in arizona; equalization payments in an arizona divorce; omitted assets in an arizona divorce decree; crsc pay and divorce in arizona; judgment for separate property stolen during marriage; judge ignores a business appraisal in an arizona divorce; reimbursement of separate property in a divorce in. For military members. pensions and divorce in arizona; military retirement pay and divorce in arizona; is separate property divided differently than community property in arizona; is arizona a 50-50 state in a divorce; is all property owned by either spouse community property in arizona; interest on a loan between spouses in arizonaTo help you navigate property division in a short marriage, we recommend that you hire trusted family law lawyers that will represent your best interests. In other cases, however, the judge may decide to award one spouse a greater percentage of the marital. B. R. Dec 19, 2012 | Custody, Divorce, Gay Marriage, Marriage, Same-Sex Marriage, Transgender Issues. An Equalization Payment is a payment made from one spouse to another for the purpose of off setting an imbalance in joint property assets. This typically occurs when a spouse owns a home during a marriage but then adds his or her spouse’s name to the Deed to the home. If you have questions about the division of deferred retirement option plans in an Arizona divorce case, you should seriously consider contacting the attorneys at Hildebrand Law, PC. A few months later, Cristina moved to hold Craig in contempt of court, largely due to his failure to make the property equalization payment provided in the MSA. However, as noted, this is not always practical or even possible. Here is an example: In rare situations where dividing property equally would be unfair, spouses can agree to divide property unequally. You get to deduct that from your separation date value and end up with an NFP value of $30,000 (The $40,000 from the date of separation less the $10,000 from the. If you need help resolving a child support dispute in Ontario, call (905) 581-7222 to schedule a. Pascual, the judge found that the court does not have jurisdiction to do as the applicant requests and set-off the future child support owed from the equalization payment the Respondent. Rule 33 (A) of the Arizona Rules of Family Law Procedure. ) $55,000. Czarnecki retired from the military that same year and received retirement benefits. The Court of Appeals ruled that provision of the settlement agreement does not provide sufficient evidence for the trial judge to evaluate the fairness of that equalization payment or the agreement itself. R. Conclusion. Arizona case law will. Czarnecki in 1973. Though the couple was divorced, Lazar’s name remained without change as beneficiary on the IRA. At this time, Mr. This is because money itself is inherently. In other words, it is necessary to make sure you can identify all sources and uses of income and assets for the individuals in question. We want to talk to you about equalization payments in an Arizona divorce. This means that a property settlement debt will not have priority status in a. She's getting a divorce, she's in default on her student loans — and the two issues are more related than it may seem. List and value all your assets and debts 2. Attorneys, doctors, dentists, mental health. Call us toll free at (800) 215-1190 or fill out out online form for your family law lawyer referral. A qualified domestic relations order (QDRO) is a court order used to divide certain retirement-specific assets during a divorce. Once you can see the complete financial picture, you can also avoid the related mistake of arguing over one asset at a time. As a divorce lawyer in Arizona, practicing in Maricopa and Pinal County, and throughout the state. Some couples are able to agree on how to divide all. App. Merger versus Incorporation of Property Settlement Agreements. § 25-318. As if the divorce process isn't emotional enough, when couples begin discussing finances, the situation often becomes more complicated. If you don’t use this special tax rule, you might have to cash in your RRSPs to make an equalization payment to your spouse. App. Carroll. But when the non-moneyed spouse is offered a lump-sum divorce settlement – either as an addition to, or as an alternative to ongoing maintenance and support payments – the lump-sum payment, the engine that will be required to support your future lifestyle, often becomes pretty abstract. Include all assets, except for those assets specifically excluded by the FLA, s. Toth, an equal division is not always equitable. But, there are court processes you can use to try to collect the money from your. 00. Your financial future will depend (at least partially) on getting your fair share of the value of all the marital assets, minus the debts. Generally, property a spouse acquired before marriage remains the separate property of that spouse. In most cases, the law says that married couples have to share the value of their property if they separate or divorce. Divorce is a stressful and complicated process which becomes more so when there is a home involved that has to either be sold or refinanced. Assets. Fax: 602-381-8187. Sometimes one spouse ends above with more of one property, are terms by who value. In that case, a wife’s negligent driving of a community car caused injuries to third persons. When both spouses are listed on a loan, mortgage or credit card, each individual. In the decree of dissolution, the trial court divided the parties’ community property. Under normal circumstances, a judge may require Spouse A, who got to keep a high-value asset (like the family home), to make equalization payments to Spouse B when the value of the home pushed that Spouse. Annulment of Marriage in Arizona Does Not Affect Community Property Rights. In short: A judge can use a QDRO to order that you receive part of your husband’s retirement benefits, including pension plans, 401Ks, 403Bs and other ERISA plans . Consider the example of a couple. In order to be eligible to divorce in Arizona, you or your spouse must have lived in the state for a minimum of 90 days prior to filing court forms to dissolve your marriage. 3. When you are separating, a criminal record will affect child custody and adoption. This is important because a spouse’s pension is treated as an asset between spouses and is included in equalization, which requires spouses to share the net growth in value of their assets during the marriage upon marriage breakdown. In divorce, you want to keep the house, which is worth $700,000. An increase in the value of that separate property during the marriage is also separate property. An equitable division of marital property is not always an equal division. Our Phoenix Divorce Lawyers are Here to Help! Click to Call (602) 536-7878 Using Community Funds to Pay a Mortgage on a Spouse's Sole and Separate House From the Experienced Arizona Community Property Lawyers at Hildebrand Law, PC. The terms “fair” and “equitable” has been defined to mean substantially equal. (310) 919-4232. Couples going through a divorce divide the finances and property they have obtained during their marriage. The attorneys at Hildebrand Law, PC would like to thank Erwin Kratz of Arizona’s QDRO Practice for submitting this informative article on the subject of Arizona divorce and the division of retirement accounts. The Arizona Court of Appeals in the In re the Matter of Flowers case held that although a sole and separate home was turned into community property during the marriage, a trial court may have the authority to award 100% of that home to the spouse who originally owned it as sole and separate property if it is equitable to do so. Failure to Comply with Equalization Payment Orders. Equalization Payments: A payment to a state, province or individual from the federal government for the purpose of offsetting monetary imbalances between different parts of the country or between. 00 towards the obligations as set forth in her spousal maintenance payments. Temporary Alimony. Hanna Amar’s passion for her clients’ difficult and deeply personal situations stems from her own family’s experiences, which is what has led her to dedicate her career to the practice of Family Law. . 592, 598–99 (App. Indeed. An equalizing payment can be ordered in a Florida divorce when one spouse is awarded a higher amount of equity in marital assets than the other spouse. Under this method, the court determines the community interest in the pension and its present cash value. Family Law Attorney in Los Angeles, CA. (949) 955-9155 (949) 955-9155. First, add up the value of all the property you owned on the day you got married. ”. Arizona’s Family Law Team – Because Family Matters. However, he is also entitled to a credit of $13,910 on account of spousal and child support. Learn what assets have special rules 3. For tax purposes, alimony payments are effectively not part of the payor’s income. Filing bankruptcy after divorce can impact multiple parts of a settlement decree, including both property debts and the amount of spousal payments. Divorce in Arizona endeavors to keep property division simple with a 50/50 split. Avvo Rating: 9. The most important tip in locating hidden assets and income is to “close the loop” on both business and personal finances. Baldwin’s son claims, gives married people only two ways to hold property: (1) They can own it together as community property. Equalization Payments in an Arizona Divorce | Hildebrand Law, PC Property Equalization Payment Explained. Serra owed Ms. Disposition. The money that the spouse with the higher total has to pay the spouse with the lower total is called. Usually, judges will assign each spouse a percentage of the total value of all the couple's marital property (sometimes called the marital or community estate), minus their debts. We get just as many questions about the division of debt in an Arizona divorce. HOW A CHILD’S VOICE CAN BE HEARD IN A CUSTODY OR PARENTING TIME DISPUTE. Although Arizona is a community property state, it does not require an exactly equal. It sent the case back down to the divorce court to apportion the $79,000 between separate and community property. Consider the example of a couple who owns their home but who has no significant savings or financial assets at the time of divorce due to financial hardship. 52 judgment awarded to Wife. R. 02 on the equalization payment. It can be as a lump sum, or paid in installments (over a period of time not to exceed 10 years). The obligation is "law-imposed" (not a "debt"). The obligation is "law-imposed" (not a "debt") because based on. This means that in a divorce, the division of such property—or the value of the property awarded to each spouse—must also be substantially equal. This effectively means that any debt that is a divorce-related debt will be non-dischargeable if you file a Chapter 7 Bankruptcy. These tools are the way the court actually reaches the division that it determines the evidence is fair and equitable. Let’s say Adam keeps the retirement accounts worth $400,000 and Eve keeps the house with an equity of $600,000. In community property states, if the card originated during the marriage, you are responsible for 50% of the debt. However, as noted, this is not always practical or even possible. This means that one spouse must usually give the other spouse an equalization payment. An equitable division of marital property is not always an equal division. Also, have the Judgment and/or an Abstract of Judgment recorded in any county in which your ex-husband owns real property - when he refinances or sells the property, you will receive payment from the.