Explain why timing is important when married couples contemplating divorce are also considering bankruptcy.
What will be an ideal response?
If timed right, the couple might be able to double their exemptions depending on state exemption law. This may help save the marital residence under the homestead exemption if they reside in the home at the time of filing Sometimes filing for bankruptcy after the divorce can have more advantages. In this situation, the means test would be based on the couple’s income for the six-months period before the bankruptcy and, in a separate calculation, the client’s income under a similar test.
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To initiate a dissolution of marriage, the person seeking the divorce, the plaintiff spouse, has to file a complaint or petition with the appropriate court and must have a copy served on the defendant spouse.
Answer the following statement true (T) or false (F)
When parties cannot agree on marital issues and head for trial, a pretrial conference may be scheduled before a judge. Its purpose is to help parties resolve the matters that they cannot decide on their own and streamline the trial process. At these conferences, parties might do any of the following except:
A. Exchange witness lists. B. Disclose exhibits. C. Narrow the issues. D. Determine custody.
The most common method of voluntary transfer of real property is a sale by an owner using a deed of conveyance
A. True B. False
What is the intent to harm, but not necessarily kill someone; if malice aforethought did not exist, but intent to do serious bodily harm did, then the murder is classified as a lesser degree of murder?
What will be an ideal response?