Primarily servicing the greater New York City metropolitan area



LEONARD M.WEINER, ESQ, Ph.D.
DIVORCE SOLUTIONS
206 East 38th Street
New York, N.Y. 10016
(212) 370-1660

FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY

Question #94:


My wife and I have been married for 4 years with a 3 year old daughter. We married right out of college with barely any assets. During our marriage she has always kept our money and credit separate. Now she is demanding a divorce with 17% of my salary as child support (We both make similar

salaries). But she says I can not touch her

assets. She has even threatened to

send her money to her family in China.

What can I do to find her assets, am

I entitled to a portion of them, and

is she liable for any of my debts that

I incurred during our marriage (individual credit accounts)? We live

in NYC.


Answer:




Any money or other assets acquired during the marriage other than by gift or inheritance

is generally marital property and will generally be divided 50-50, no matter in whose

name the property or money is held. Child support is a different issue. There is a statutorial

requirement to pay 17% for one child, but the parties can agree on a different (i.e. lesser) amount.

The catch is that although both parents are suppose to each pay 17%, in effect ,

the non-resident parent pays hisher share to the resident parent and the resident parent does not pay!

Actually, there is really a complex formula to calculate the 17% and it is not simply 17% of

your total salary. But let's call it 17% for this discussion.

If she hides her money or sends it to China as you indicate, the Court will

credit you for the amount she hid or took.

Once you file for divorce, you can demand a Net Worth Statement in which

your spouse will have to swear as to all of her assets and liabilities.



Please call me at 212-370-1660 to discuss further.



Leonard Weiner, Esq.Divorce Solutions
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