Divorce

How Marriages End

0Death – one of the two dies 0Annulment – courts rules that the marriage was never

effective 0Divorce – Valid marriage has come to an end

Annulment

0Laws vary among states0Fraud – below the state age to marry, secretly intnding

to never have children, and concealing pregnancy by someone other than the husband.

0Duress – someone is forced to marry against his or her will

Legal Separation

0Legal Separation aka limited divorce – court order to end the right to cohabitate0 Temporary decision on custody and child support 0 Still married

Grounds for Divorce

0 Traditional Grounds for a divorce 0 Adultery0 Cruelty0 Desertion0 Alcoholism or Drug Addiction0 Nonsupport0 Conviction of a felony

0 No- Fault Divorce – Eliminates the need to state that one party is to blame0 Verbiage – incompatibility, irretrievable breakdown, and

irreconcilable differences

Divorce Settlement

0Alimony – an allowance for support and maintenance from one spouse to another. It is not considered punishment. Texas does not have alimony.

0Marital Property – Equitable distribution of assets 0 Community property – attained during marriage 0 Non – community property – attained before marriage

Custody and Child Support

0Sole Custody – all parental rights and duties to one parent

0 Joint Custody – divides parental rights and duties between parents

0Child Support – mathematical formula taking into account the earnings of the non custodial parent

https://www.youtube.com/watch?v=HNohGQv9o9g

Need to Know

0Renting an apartment0Buying a house 0 Insurance

Last Will and Testament

Making a Will

0Provides for the distribution of assets upon death

0Person who dies with a will is said to die Testate 0A gift of personal property is called a bequest0A gift of real property is called a devise 0Those who receive property through will is called

beneficiaries. 0An Heir is a person who receives property through

inheritance, a will was never made.

Requirements for making a Will

018 or older 0Sound Mind – sufficient mental capacity to

0 Understand nature and extent of your assets0 Know who would receive assets 0 Know you are creating a will0 Free from delusions

Formal Requirements of a Will

0Must be signed and witnessed by a number of witnesses (2).

0A will must be in writing 0 Exception – oral will made by a solider or marine

Revoking or Changing a Will

0Revoking 0 Burning0 Tearing0 Canceling0 Obliterating 0 Executing a new one 0 Marrying after will was created or divorcing

0Changing 0 Codicil – formal change to a will, must be witnessed

Family Protection

0Money immediately taken from estate to cover costs while estate is being settled

0Homestead exemption – puts home beyond the reach of creditors for a certain amount of time

0Exempt property – certain property that cannot be touched by creditors

Protection of Children

0 If a immediate descendant of the deceased can prove that they were accidentally omitted from the will, the court can rule they receive the same amount as if they were included.

0 If they are purposely omitted, there is nothing they can do.

Dying Without a Will

0A person who dies without a will is called an intestate. 0Each state’s laws are different 0 In general, the spouse and children are entitled to

equal shares

Settling an Estate

0A will must be probated – the executor of an estate must go before a probate court. 0 They make sure the will is valid0 The executor is a representative that carries out the

terms of the will.