Define marital property and define separate property

Reference no: EM133460052

Questions: Family law Essay FACTS: Hank and Wanda married in August 2010 in the City of Buffalo. They did not have a prenuptial agreement. They have two children, Jada (age 8) and Willow (age 10). Both Hank and Wanda work as nurses. Hank earns about $55,000 per year and Wanda earns about $62,000. Once Hank and Wanda got engaged, they bought a house in Cheektowaga and moved in together. They currently live there with their two children. Prior to the marriage, Hank bought a townhouse in Amherst, N.Y. where he lived alone. Hank still owns the townhouse. He rents it out and puts all the money from rent into a separate savings account, which is in his name only. He has plans to save that rent money for his children's college fund. In February of 2023, Hank found out that Wanda had been having an affair with his brother, Robert, from December 2020 - December 2022. Wanda is no longer seeing Robert in a romantic way, but Hank has not been able to move past the affair. Hank now wants a divorce, but he is worried about how that will affect him financially. When Hank mentioned he wanted a divorce, Wanda was very upset. She went on a shopping spree to try and make herself feel better.She spent the $5.000 they had in a joint savings account. Hank says he wants full custody of the children because he thinks that Wanda is morally bankrupt and is not a good role model because of the affair. 1. Define marital property. 2. Define separate property. 3. Is the townhouse marital or separate property? Why? Main Conter 4. Is the Cheektowaga house Wanda and Hank lived in together marital or separate property? Why? 5. What is the method or standard in New York for dividing marital property during a divorce? 6. Is a judge likely to just split up the marital property 50/50 to Wanda and Hank? Why or why not? 7. Hank and Wanda are still civil towards each other and they do not want to spend a lot of money on the divorce process. Is it okay for the same attorney to represent both of them in a divorce action? Explain the ethical issues involved in that situation. 8. Explain why it might it be beneficial for Hank and Wanda to get a divorce through an alternative dispute resolution procedure like mediation or collaborative law. 9. Identify and explain one ground for divorce that might be proper in Hank and Wanda's situation. 10. In which specific court should this divorce proceeding be filed? 11. What is the standard that a court uses to determine custody and visitation issues? 12. Do you think a judge is likely to give Hank full custody because Wanda had an affair? Why or why not?

Reference no: EM133460052

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