i have been married almost 5 years, living together for seven years, and together for 10 years total. no children, but a 80 lb golden retriever whom we acquired together when the dog was a puppy. my husband has an engineering undergrad degree and a MBA from a prestigious university. he earns 6 figures plus annually. i have been in grad school throughout most of our marriage and only working part time. he has paid the majority of expenses over the years. we have no debt and about $200K in assets (mutual funds, IRA, stocks, etc). we own no real estate. we live in nj, a community property state. if we divorce, will i be entitled to half of our assets. we have no prenup. i am a designer and make considerably less than he does. please advise. thanks.
2006-11-14 07:52:01 · 6 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
I also live in a community property state & am going through a divorce. You are each entitled to 50% of the assets, including any retirement accounts.
2006-11-14 08:15:35 · answer #1 · answered by I saw whatudid 3 · 0⤊ 0⤋
First, NJ is not a community property state, Wisc. is the only one east of the Mississippi, so your assets arent automatically 50/50. Your best bet would be to sit down with him and work out the details on paper and present them to the divorce court. You two are educated enough to do the paperwork or you can get either a Paralegal or an Attorney to do it. Uncontested divorces are not rocket science and if you two are still friends then this should pose no problem. Just be willing to compromise to obtain what you really want. With no children or debt you are in a "perfect" divorce situation if there ever was one, so basically all you have is assets to divide which should be very easy to do and divorce judges love it too. Sorry about the marriage and good luck to your future
2006-11-14 16:17:46 · answer #2 · answered by Arthur W 7 · 0⤊ 1⤋
It doesn't matter how much you make. You are still entitled to half of all the assets that were acquired "during" your marriage. If you can not agree to divide the assets between the two of you then it can be decided to sell all assets and divide the sum between you both.
2006-11-14 15:57:16 · answer #3 · answered by April C 2 · 0⤊ 0⤋
The answer is your entitlement is limited to the acquisition of marital property DURING the marriage. I realy dont like these postings because as a male, it is very unfair that the wife can dip into a retirement account. The years of hiim working prior to meeting you should be off limits. but the law has pandered to the womens voting block.
2006-11-14 16:24:07 · answer #4 · answered by Your P 2 · 0⤊ 1⤋
Absolutely...just went through it. You are entitled to 50% of all marital assets plus alimony until you finish school. Good luck!
2006-11-14 16:05:34 · answer #5 · answered by Red 1 · 0⤊ 0⤋
It's amazing that in this day & age we try to make sure everything is even, because there is no such thing as "Leave it to Beaver" anylonger.
Before you decide to divide everything up, I really think you ought to talk to your husband & see what his thoughts are. He may be all for 50/50 - but you have to ask him first...
2006-11-14 15:56:49 · answer #6 · answered by T. 6 · 0⤊ 0⤋