Edward and Martha, both age 45, are getting divorced after 15 years of marriage. Edward has been with his current employer for 10 years, while Martha owns a very successful chain of grocery stores. As a part of the divorce process, they are currently calculating the value of their net family property for the purposes of determining an equitable division of assets. Which of their assets would be excluded from the calculation? I) The matrimonial home, which was gifted to Martha by her grandparents when she was age 25 II) $25,000 cash settlement Martha received 5 years ago from a car accident III) Edward's pension from his employer where he was worked since he was age 35 IV) $50,000 life insurance proceeds Edward received 5 years ago when his father died .

Answer rating: 100% (QA)

In most jurisdictions assets acquired before the marriage or through independent means are generally ... View the full answer