Family Law

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We have a few assets but are not agreeing to a number what’s…

We have a few...

We have a few assets but are not agreeing to a number what’s the next step?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Hawaii

Lawyer's Assistant: Has anything been filed or reported?

She filed this past Friday our divorce papers

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

She wants me to move out of the house.... is that a good idea?

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Answered in 10 hours by:
3/13/2018
Jessica B
Category: Family Law
Satisfied Customers: 1,680
Experience: Attorney at Donald B. Linsky & Associates, PA
Verified

Hello. My name is ***** ***** I am a licensed attorney. I hope I may be of assistance with your question. Please remember to rate my service at the end of this session. Thank you!

In Hawaii, the courts generally accept a fair and reasonable property division the parties agree to, but if the parties cannot agree, the Family Court divides the marital estate within the Judgment of Divorce.

Hawaii is an equitable distribution state, and all property is considered for distribution. Equitable does not mean equal, or even half, but rather what the Family Court considers fair.

Hawaii law requires a division of property in divorce to be equitable, meaning that it must be fair but not necessarily equal.

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Hawaii courts refer to property a couple acquires after marriage as marital.

The judge may divide all of a couples property in any manner that seems fair, regardless of who owns it, whose name is ***** ***** title, or when it was acquired.

If one spouse owns property before marriage, or acquires it by gift or inheritance, a court usually considers that property to be separate and awards it to the original owner in a divorce - but not always. Hawaii is one of eight jurisdictions that include separate property in the marital estate providing the court finds a special showing of need by the non-titled spouse.

Appraisals help a couple determine the value of real property as well as items like antiques or artwork. Retirement assets can be very difficult to evaluate and may require the assistance of an actuary, CPA, or other financial analyst.

Spouses can divide assets by assigning certain items to each spouse, or by selling property and dividing the proceeds. Some couples agree to keep the family home until children are out of school. Others may keep investment property in hopes of appreciation.

The court also assigns all debt accrued during the marriage, including mortgages, car loans, and credit card debts, to one spouse or the other. If the couple cant agree on how to divide property and debts, a judge decides, taking into account all of the circumstances of the case.

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Before I move on to the marital home I want to make sure you don't have any questions regarding the information provided.

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Customer reply replied 4 months ago
Thank you

In Hawaii, as in many jurisdictions, the equity in the marital home is often one of the biggest assets the spouses divide. The equity is the market value of the house, less any debts or liens against it. Equity is established by determining what the current market value of the home is at the time of separation. Once the spouses agree to a current market value, any debts associated with the property (mortgage, taxes, home equity loans, etc.) are deducted from the market value to arrive at the equity to be divided. Normally, making this calculation requires a paid real estate appraisal or a real estate agent can prepare a market analysis for free.

Jessica B
Category: Family Law
Satisfied Customers: 1,680
Experience: Attorney at Donald B. Linsky & Associates, PA
Verified
Jessica B and 87 other Family Law Specialists are ready to help you
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You are not required to leave the marital home.

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Please let me know if you have an additional question or need clarification of the information provided. If not, please remember to rate my service. Thank you!

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