Definition:
Marital portion refers to the share of a deceased spouse’s assets that the surviving spouse is legally entitled to. This entitlement may vary depending on the jurisdiction, with some regions only granting it if the deceased spouse had a higher net worth than the surviving spouse.
The marital portion refers to the share of a deceased spouse’s estate that the surviving spouse is legally entitled to. The specific amount can differ based on the laws of the state or country. For example, in civil law, the marital portion is determined as a certain percentage of the deceased spouse’s estate, ensuring the surviving spouse receives a fair share. In Louisiana law, the marital portion is calculated based on the deceased spouse’s wealth compared to the surviving spouse’s. If the deceased spouse had significantly more assets, the surviving spouse may receive a larger portion of the estate. These examples highlight the variability of the marital portion based on jurisdiction. It is crucial to be aware of the laws in your area to ensure you receive the rightful portion of the estate as a surviving spouse.
The marital portion refers to the assets and debts acquired by a couple during their marriage that are subject to division during a divorce.
The marital portion is typically determined by identifying all assets and debts acquired during the marriage and then dividing them equitably between the spouses.
No, not all assets and debts are considered part of the marital portion. Generally, only those acquired during the marriage are subject to division.
Assets and debts acquired before the marriage are usually considered separate property and are not part of the marital portion. However, there may be exceptions depending on the jurisdiction and specific circumstances.
In some cases, assets acquired after separation may still be considered part of the marital portion if they were obtained using marital funds or if there was an agreement between the spouses.
The marital portion is typically divided through a process called equitable distribution, where the court determines a fair and just division based on various factors such as the length of the marriage, each spouse’s financial contributions, and their respective needs.
Yes, spouses can reach a mutual agreement on how to divide the marital portion outside of court through negotiation or mediation. However, it is advisable to consult with an attorney to ensure the agreement is fair and legally binding.
Hiding assets during a divorce is illegal and can have serious consequences. If one spouse suspects the other of hiding assets, they should consult with an attorney who can help uncover any hidden assets and ensure a fair division of the marital portion.
Typically, the marital portion includes only assets and debts acquired during the marriage. Future income or assets earned or acquired after the divorce are generally not considered part of the marital portion.
In general, the division of the marital portion is final once the divorce is granted. However, certain circumstances such as fraud, significant changes in financial circumstances, or the discovery of hidden assets may warrant a modification of the division. It is advisable to consult with an attorney to assess the feasibility of modifying the division.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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