is it true when you get a divorce half your money is your ex's even if the back accounts were in just you name

Question

someone told me in new york when you get divorced half your money goes to your ex regardless if the back accounts were just in your name. can anyone tell me if this is true?

Answer 1

i think its true

Answer 2

This depends on if the state that you are living in is a community property state. I know that a lot of states consider themselves community property states when it comes to divorce. If it is it doesn't matter in the least if the house is in your name only, the cars or the accounts. If you are married and are planning on divorcing the courts look at all property and finacial property as joint. So yes your spouse can get half of everything. The only way you would be able to get to keep something without loosing it(for example the house if it was just in your name) Would for you to buy out your spouse's share of the house. Find a good lawyer that can walk you through all the details of what a community propery state is and what that entails with a divorce. Good luck to you.

Answer 3

Generally speaking, your spouse is entitled to 50% of the martial assets/property, which is anything acquired DURING the marriage.

However, there are times when property/funds may be determined to be separate property rather than martial property. For example, if you inherited money while you were married and you put that money into a bank account in your name alone and you never co-mingled that money with your martial funds, then it’s separate property, not martial property, and therefore does not get divided.

If, on the other hand, the money in this bank account merely came from your earnings during the marriage, it’s martial property, even though your spouse's name is not on the account, and therefore, it will be divided.

You need to talk to an attorney and provide him or her with all the details of what property/funds there are, when and how they were acquired, etc.

Answer 4

Most property that is acquired during marriage is considered marital or community property. For example, wages earned by the husband and wife during marriage generally are considered marital property. Unfortunately same applies do debts like unpaid credit cards even in ex name.

Answer 5

In many states this is true. My husband's best friend just got divorced (in California), and his wife had over $10,000 worth of medical bills she brought into the marriage (they were only married 8 months), and my husband's friend had to assume half the responsibility for repayment.

Answer 6

Yep, it's true. Generally, everything the two of you own is community property. Also any debts. There are some exceptions, but you'll need a good lawyer. Good luck!

Answer 7

Yes, if you live in a community property state.
They are:
* Arizona
* California
* Idaho
* Louisiana
* Nevada
* New Mexico
* Texas
* Washington
* Wisconsin
Please follow link for more info about community property states.
http://www.fairmark.com/spousal/comprop.htm

Answer 8

When you live in a community property state. Everything is split right down the middle. Don't go and try to take it all out, because they have records and put it right back in her hands., SORRY YOU HAVE HAD IT, BUT CAN'T KEEP IT.

Answer 9

Anything acquired during a marriage becomes marital property.

Answer 10

Yes it is true everything is 50/50.

Answer 11

That's how it works in California.

California's been notorious for it for years; I believe that's why so many of the celebs get pre-nups.