I am seriously considering divorce but want an opinion of protection of MY ASSETS(at least thats how I view them).We keep our finances SEPARATE (no joint accounts).I estimate the equity in our house is 200K. My wife lost her job about a year ago and am pretty sure she is drawing money off her 401k.Most of the year she hasn't paid towards mortgage or bills.Probably owes a good bit on cr card and will owe some taxes on unemp and 401k withdrawals.I'm a saver and investor and she is a spender. She says she will be hard pressed to get as good a job (Med sec'y for 30+) but is sort of still looking.She is now getting interested in MARY KAY(eeecch).Should have tried that 8 months ago.Est worth besides house-me $400k(stocks and IRAs) her 100k (401k).To me I'd like to split the proceeds from the house and give her $25k to pay her debts/taxes and should still leave her 7k (guess).I'd like to think that the spirit of the deal would be upheld.What is considered "marital assets" I guess is the qstn.
2006-12-10 21:53:30 · 5 answers · asked by fairdeal 2 in Family & Relationships ➔ Marriage & Divorce
I went through the big "D" in Maryland. Your soon-to-be ex can claim anything accumulated during the course of the marriage. You can also stake a claim to her 401. Trust me, she will make a claim for any money she can if she has a lawyer that's not asleep at the whell. They usually will go back 6 months to a year to review all your financial activities, e'g' hiding money. However, your wife would also be responsible for half the marital debts, also. I put my "unemployed" ex on an allowance for the months until we separated, that was encouraged by my lawyer to curb her prolific spending. Further, I'd start taking out sums of cash, about 200 or so a week, nothing huge and buying "groceries" and "lunch", other smaller items with cash. No way this can be verified and you can amass quite a hoard in several months. Even though she's not working the court will determine her employability by her work history and assign a salary fugre to that when ruling. Mine refused to work and we hired a vocational expert to assess her market value. That got her off her butt and working.
Good luck, my bottom line advice is that all bets are off when money is involved, she'll rake you for as much as she can!
2006-12-10 22:31:16 · answer #1 · answered by Dartagnan 2 · 0⤊ 1⤋
Anything you have is considered an asset. House, Bank accounts, savings, stocks, bonds, mutuals, IRA, 401 k, pensions, income, car, Taxes -(state and federal) even down to the family dog or cat. Furnishings in your home and also all of the debt will be jointly shared.
If your state is a community property state assets will be split and divided. It's all marital property.
I'd think 2x (twice) before filing for divorce. You could take it in the shorts financially. Sounds to me like you have what I would call a married divorce any way. Nothing is jointly owned. You lead seperate lives and the communications between the two of you is also nil. What you have is an emotional divorce and you're married. How on earth did you both get to that point?
don't you still love her? Maybe if you would put forth the effort and rationalize what you have and maybe if you would not be so focused on the $$$$$ issues, net worth and assets you would be a happier person. Maybe your wife sees that she's just a money crunch # to you and feels she's worth more than a # in a portfolio of acquired assets!
2006-12-10 22:30:05 · answer #2 · answered by aunt_beeaa 5 · 1⤊ 0⤋
in case you get married in an area components state, there is not any protection. inspite of prenups, there's a shrink to what may well be special. you're relatively intelligent finding at those subjects pre-marriage. no person seems to break up or plans to get one. I tell all my consumers "stay waiting so which you do not could get waiting." the superb factor you're able to do is have a unfastened consultation with 3-5 divorce criminal experts interior the state you intend to get married and stay in and ask them this question. they're going to inform you what style of pre-nup you may might desire to guard your components. in the adventure that your fiance does not like the belief of that (and a lot of do not), your factor of argument is this: if we are under no circumstances going to get divorced besides, why does not signing this is counted? you fairly can not argue with that from a logical perspective.
2016-12-11 06:47:28 · answer #3 · answered by ? 4 · 0⤊ 0⤋
are you serious ? you are divorcing her cause she lost her job? what a sleezy thing to do . I am so glad she ran and married you to take you off the market before I met you or someone like you. I hope your wife is aware that you want a divorce because if she does i hope she takes you for everything that you are worth . I would tell her to rip you a new one when it comes to the divorce . do you really think that 7 ,000.00 is going to get her through ? You really are a sc--bucket . I hope you get what is coming to you and let us just hope it comes to you soon.
2006-12-10 23:49:36 · answer #4 · answered by Kate T. 7 · 1⤊ 0⤋
usually, retirement funds are protected in a divorce. talk to a lawyer and he can explain what you have to lose.
2006-12-10 22:06:43 · answer #5 · answered by sinned 7 · 0⤊ 0⤋