Tag: Marital Property

Rental Real Estate Valuation in Divorce

February 10, 2012 | Blog, Business Valuation

Icon for author Brian Vertz Brian Vertz

Valuation of commercial real estate and rental properties is an issue that arises in high-asset divorce proceedings. Real estate appraisal is sometimes performed within a business valuation, if the business owns real estate. In 2011, the U.S. Tax Court issued an opinion addressing real estate valuation in a case where competing experts offered two different methods. Like most Tax Court cases, this opinion involved an owner who had passed away, […]

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Tracing Nonmarital Property

December 12, 2011 | Blog, Court Decisions, Equitable Distribution, Marital Property

Icon for author Brian Vertz Brian Vertz

A recent Superior Court decision, Childress v. Bogosian, 2011 WL 61616 (2011), illustrates the challenge of tracing nonmarital property in divorce. Under Pennsylvania law, the property owned by a spouse prior to marriage, or acquired by gift or inheritance during the marriage, or acquired after separation, is generally nonmarital property if it has not been converted into marital property by re-titling it in joint names. Still, the law creates a […]

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Lump Sum Divorce Payment: Exempt Property in Bankruptcy

September 09, 2010 | Blog, Court Decisions, Divorce, Marital Property, Settlement

Icon for author Brian Vertz Brian Vertz

In Re Miller, 424 B.R. 171 (M.D. Pa. 2010) Wife/Debtor filed a chapter 13 bankruptcy petition, in which she attempted to classify an “income maintenance award” of $88,500 received in a divorce decree as property exempted from the bankruptcy estate.  The divorce decree provided that Wife was to receive $88,500 cash in order to effectuate a 67%/33% division of marital property.  Next, Wife’s former divorce lawyer filed a proof of […]

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Massachusetts Authorizes Post-Nuptial Agreements

August 04, 2010 | Blog, Court Decisions, Divorce, Marital Property, Settlement

Icon for author Brian Vertz Brian Vertz

The Supreme Judicial Court of Massachusetts ruled recently that agreements between spouses who plan to continue their marriage but wish to define their legal rights and obligations in the event of divorce are enforceable in that state. Some states (notably Ohio) do not permit spouses to execute agreements waiving their marital rights unless they are actually pursuing divorce, and the law of many states is unsettled. In its recent decision, […]

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