I was a stay at home dad to our infants while my wife did 2 years of med school & two years of residency/internship.
NY Equitable Distribution law recognizes this as a my having contributed to the license & allows me to claim 50% of the total projected income due to this qualification/license over the years that my wife will work.
In our particular case , the license's values is around $1.4 million of which i am entitled to around half. (This would be paid on settlement of the financial matrimonial case, not over the years she works. She has sepearte property.)
Thanks. I would be prepared to err on the side of caution and report it (both the license and the property) if it's in question.
I am without attorneys and do not want to risk this being brought up as an issue to prevent my bankruptcy filing from going through. Due to the divorce I am being litigated against in various court's and do not need more issues to contend with.
1) The jointly held property goes on Schedule A. The mortgage for that property - if it is also in your name - goes on Schedule D, and on Schedule H (assuming your wife's name is XXXXX XXXXX the mortgage).
2) The contingent claim for 50% of your wife's medical degree goes on line 17 of Schedule B.
I think this is what you wanted to know. If not, please let me know.Thank you!
Ok. So I understand that I need to file both these assets. Part of my question was as well whether I may state that these are contested claims (both the joint property and the claim for 50% of the license)
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