During the time in which you and your spouse are legally separated or divorced, your spouse may petition for exclusive usage of your marital property, such as your primary home. You might feel that this is unfair and that you should be compensated, and such feelings can be justified. At Fair Cadora, we want to reassure you that you may be able to seek reimbursement or credit for the time in which your spouse was the primary resident in your marital home. The first step in finding out whether you can get reimbursed is to speak with one of our family law attorneys and to discuss the specifics of your case.
Types of Credit
Aside from being reimbursed for the usage of your marital estate, another important subject to look into are various credits.
There are various credits and reimbursements provided following a divorce or separation, which include:
Watts credits: This is a credit the spouse living in the primary martial home will owe depending on the value and monthly cost of the home. The spouse not living in the residence does not qualify for this credit.
Epstein credits: In the event that one spouse pays down a community debt, such as a car loan or credit card following the divorce, they may be entitled to this credit for reimbursement purposes.
2640 Reimbursements: In the event the community made contributions towards the improvement of one spouse's separate property, the other spouse made me entitled to a reimbursement.
Because these types of credits can accumulate following your separation, but before your judgment is final, it’s vital that you maintain documentation of your expenditures. Our attorneys at Fair Cadora can argue that such credits should be factored into your final settlement.
Thorough Guidance through Your Divorce
Many people become so distracted by the various steps necessary in a divorce and do not pay close enough attention to calculating their potential credits and reimbursements. Our detail-oriented lawyers are adept at providing our clients with numerous credits that they didn’t realize were owed to them. These credits can be a major factor in determining your financial standing following your divorce and should not be ignored.