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It is indeed the case that in a community property state a LLC owned only by a married couple may elect for the LLC to be treated as a disregarded entity for federal income tax purposes. The rule was made to allow business owners in community property states to have the same options for how their LLC can be treated as owners in non community ...
New Mexico STBX's attorney sends a letter to me which states that STBX stopped paying into 401k when we got married; therefore, it's all his. But 401k statement shows over $500,000 during marriage. STBX says corporation paid in for him, it wasn't out of what he pays himself, so he says it...
California My husband of 25 years, just handed me a document to sign "Profit Sharing Plan & Trust Beneficiary Designation". We live in California. It states "Under this Plan, the surviving spouse of a deceased Participant is generally entitled to a "surviving spouse's benefit" equal to the...
May 3, 2009. #2. No, it doesn’t sound right. Mainly because much of what you were told at the courthouse is not correct. For instance Letters Testamentary are only issued upon a will being admitted to probate. (Letters of Administration where there is no will.) Here there may be some limited probate court involvement, but getting the ...
An inheritance received during marriage is not community property. However, there may be events that happen after it has been received that would change the nature of the funds. EDIT: To be clear - if property is not "community property" then it is separate property. In a divorce, a spouse is not entitled to the separate property of the other ...
Oct 30, 2000. #1. I just learned that California has a law on the books called the "Epstein Credits" this is when the supporting spouse of a divorce proceeding can charge the dependent spouse 1/2 of all of the community debits accumulated from the date of separtation. Does anyone know if there is a similar law in the state of Washington?
I am employed on a full time basis in Texas and have an apartment leased in my name there. I took the job in Texas in June, 2008. I have three children - two are in college in Colorado and Oregon. The third child is a high school senior and will be attending college next year. After the...
In states without community property, it's possible that one spouse would benefit significantly from filing separately at the cost of dumping a large tax burden on the other spouse. When they can't agree on how to file the return, then the judge will have to decide that.
Under Tennessee State Law can a debt collection agency do the following: Add a spouse name to the account even if it wasn’t listed on the original account by the original creditor, I didn't sign anything (medical debt). My husband incurred a medical debt and it was turned over to a collection...
What is the name of your state? Utah I am trying to get my wife's spending under control, over $8000/mo on junk. This is above and beyond food, rent, and utilities. I have gone to the extreme of separating all of our accounts and credit cards. I have continued to pay off her credit cards each...