To the Finish Line? - Lindsey Vonn Divorce
Olympic Skier Lindsey Vonn is officially divorced and single again. The 28 year-old hottie ski champ was officially divorced from her former coach Thomas Vonn. The couple was married in 2007 and have no children together.
Lindsey recently opened up to the media stating that her marriage just wasn't working and it was making her miserable. The world champion became the most successful American skier in the history of alpine skiing, but for years she was hiding her failing marriage and her depression from the world. The couple met in Utah when she was just 16-years-old and he was 25-years-old.
Vonn is hopeful her very hard time is behind her and she is looking forward to the 2014 Olympics, ready to break new records.
No word yet on how the couple split up their assets, but it is known that Lindsey gets to keep the Park City, Utah home which was bought for $1.1 million back in 2006.
For most people, the biggest single asset they will attain in their life is a house. The house in which a married couple cohabits is known as the matrimonial home. Further, spouses may have more than one matrimonial home as long as the couple occupies the piece of property during the marriage and at the time of separation.
The matrimonial home is part of property division when a couple is divorcing; this area of family law is called the Equalization of Net Family Property.
While certain inheritances or gifts from a third party during the marriage classify as an exclusion or deduction used to reduce a spouse's Net Family Property - the matrimonial home is given special treatment in equalization. The matrimonial home cannot be excluded or deducted, even if it was a gift and even if it was owned on the date of marriage, providing it is still the matrimonial home on the date of separation.
As the matrimonial home is commonly a couple's biggest asset, it is important to get sound legal advice regarding what happens to the home when a couple is thinking about getting a divorce.
For more information including articles, FAQs, and video blogs, regarding the Division of Property, Assets and the Matrimonial home please visit our website.