Asset Division Help!

pk1at · 2022-07-25T18:27:16+00:00

All the best to you. This is why I suggest men put premarital assets in a trust prior to marriage. You'll have to go in front of a judge and try to educate him about the law, but don't be surprised to see the bank balance split in half

dday_throwaway3 · 2022-07-25T18:29:21+00:00

> DOES NOT account for what the balances were prior to the date of marriage

It all depends if the assets are marital or separate property. For example, if you have a 401k from an old job that you never rolled over and never contributed to after you married, then it's separate property and is not in scope for divorce. Another example: If you bought the house before you got married, the equity you had in the home prior to marriage is separate property. I had both of those scenarios in my own marriage, and was able to keep those out of scope. Inheritance is also separate property by default. However, if you intermingle it with marital assets, then it can become transmuted into a marital asset. So the devil is in the details, and you need to discuss those details with your attorney.

Gattsama · 2022-07-26T14:05:15+00:00

That is correct. Generally speaking everything before the marriage and after filing is yours. Everything during thr marriage is a communal asset. However. If you mixed the assets it can get confusing. If you bought a house prior to marriage, mortgage and title are in your name, she moves in, mortgage is paid by you and you divorce; that house is yours. If you out her on the title, or refinanced it's 50% hers.

You need to make a spreadsheet of all assets, debts and expenses. Then document their values at the start of the marriage and the date you filed. Then mark which are communal and not. Some like your 401k may have been created before marriage, so she only gets 50% of what earned during thr marriage (but not before).

Same for all debts. Eg student loans prior to marriage are hers. A credit card she used during thr marriage, that's new debt that you owe 50% on. Doesn't matter if card was opened prior to marriage the new debt occurred during the marriage.

Title	Asset Division Help!
Author	MathForPay
Upvotes	1
Comments	17
Date	July 25, 2022 6:08 PM UTC (4 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/w7vvtg/asset_division_help/
Archive Link	https://theredarchive.com/r/Divorce_Men/asset-division-help.1124869 https://theredarchive.com/post/1124869

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