Understanding Marital Assets, Debts, and Equitable Distribution

Broke Up, Not Broke(n)™

Jamie Lima delves into understanding marital assets and debts, the significance of the separation date, and the treatment of separate property. Learn about equitable distribution vs. community property, how to value marital assets accurately, and the importance of gathering relevant documents.

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(0:00) Introduction by Jamie Lima (0:29) Overview of marital assets and debts (1:06) Importance of understanding financial strategies in divorce (2:12) Explanation of marital property (3:13) Significance of the separation date (4:25) Treatment of separate property in divorce (4:50) Equitable distribution vs. community property (6:39) Case study on equitable distribution (8:49) Accurately valuing marital assets (10:11) Gathering relevant documents before divorce (11:23) Key takeaways and summary (12:15) Conclusion and call to action