When couples are going through a divorce one of the most important aspects of that process is the equitable division of property. Although there are always exceptions, as a starting point, marital property isdivided 50/50. Most couples are able to come to an agreement on how property should be divided by negotiating with each other or through their attorney’s.
A qualified family law attorney can help the parties understand the law that the courts will use to divide the property. This often helps in understanding the benefits that come from a mutually beneficial agreement.
However, what happens when there is a new topic that the courts and legislature have not yet addressed? That is exactly the situation that we are in now with COVID 19 stimulus checks. How should that property be divided. There are several unique situations that could arise.
If, during the divorce process, one party receives the stimulus check for the entire family, how should that be divided? What if the parties are recently divorced and the check goes to just one party? If the parties filed their taxes separately and each receive a check, but one party receives all of the stimulus for the children, should that money be divided? Stimulus checks were sent to families based on their tax filings, and without regard to separation agreements, court orders, or parenting time arrangements. All of those could have an affect on how the money, regardless of who received it, should be distributed.
Kanthaka Law is on the cutting edge of family law issues. If you have questions about whether you received your equitable share of the stimulus package, please contact us to discuss your situation, and our professional approach to protecting your assets. As always, our initial consultation on your matter is without charge.