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Divorce settlement. A divorce settlement is an arrangement, adjustment, or other understanding reached, as in financial or business proceedings, between two adults who have chosen to divorce. [1] It serves as the final legal agreement between these adults for documenting the terms of their divorce. [2]
A fault divorce is a divorce which is granted after the party asking for the divorce sufficiently proves that the other party did something wrong that justifies ending the marriage. For example, in Texas, grounds for an "at-fault" divorce include cruelty, adultery, a felony conviction, abandonment, living apart, and commitment in a mental ...
e. A postnuptial agreement is a written agreement executed after a couple gets married, or have entered a civil union, to settle the couple's affairs and assets in the event of a separation or divorce. It may be "notarized" or acknowledged and may be the subject of the statute of frauds. Like the contents of a prenuptial agreement, provisions ...
Avoid Paying Taxes on a Divorce Settlement. Any property transferred as part of a divorce keeps its tax basis. There is no step-up basis loophole in divorce proceedings. For example, say that you ...
Even President Donald Trump's costly divorce pales in comparison to these seven and eight-figure settlements.
No-fault divorce is the dissolution of a marriage that does not require a showing of wrongdoing by either party. Laws providing for no-fault divorce allow a family court to grant a divorce in response to a petition by either party of the marriage without requiring the petitioner to provide evidence that the defendant has committed a breach of the marital contract.
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