FINANCIAL ISSUES – MARITAL PROPERTY V. SEPARATE PROPERTY – Page 24

Oct 30, 2018

Question #69: I’ve been married for 1 1/2 years. My husband wants a divorce, heisn’thappy. We bought a house before we got married. Both saved money and I put money that I received from a legal settlement. Am I legally entitled to that money?

The house is not marital property because it was purchased prior to the marriage but would be divided according to the percent in which you each invested in the house, including upkeep and improvements. Any money earned during the course of the marriage is marital property . Money earned from a personal injury claim is […]

Oct 30, 2018

Question #65: My daughter is currently in the process of separating from her husband. She has an 18 month old child. The divorce is her idea. Must she remain in her house with her husband until a separation document is filed or can she move in with me with her child prior to filing the documents. The current way they are living is very difficult.

Unless there is physical abuse involved, your daughter should remain with the child in the house, if she intends to request that she be granted the house to raise the child in, at least until she has a written agreement regarding the disposition of the house. I strongly recommend that your daughter seek an attorney- […]

Oct 30, 2018

Question #60: After 20 yrs of marriage and 2 children (ages 12 & 7) my husband wants a divorce. I have not worked outside the home since my 12 yr old was born. I know NYS allows 25% of my husband’s income for child support, but I would like to know if I can collect money in addition to that. Is it reasonable to expect my husband to pay the mortgage while my children and I live in the house and if so, is this usually only done until the children are 18? I also would like to receive part of his profit sharing account, stock option account and retirement account and can I receive part of the future value that will go into these accounts? Can I obtain full ownership of the house and give up my right to the retirement plan? I have no college degree and worked while he completed college and went on to get his Master Degree. Thank you.

You should receive a portion of your husband’s retirement account which was earned during the course of the marriage and some spousal support as well as child support if you will be the residential parent. The other issues regarding the house, the mortgage, and trading one interest for another will depend on either your working […]

Oct 30, 2018

Question #57: MY WIFE AND I SEPARATED A YEAR AGO,HAVE 4 CHILDREN RANGING IN AGE FROM 9 TO 17,AND HAVE BOTH NAMES ON THE DEED TO OUR HOME VALUED AT $500,000.I EARN APPROXIMATELY $230,00/YEAR,MY WIFE WORKS PART TIME EARNING $15,000/YEAR AS A TEACHING ASSISTANT. SHE GAVE UP HER CAREER TO TAKE CARE OF THE CHILDREN 18 YEARS AGO. MY QUESTIONS ARE;1. HOW WILL CHILD SUPPORT BE DETERMINED,WILL HER SALARY ENTER INTO IT.2. AM I OBLIGATED TO PROVIDE SPOUSAL SUPPORT,IF SO INDEFINETLY OR UNTIL SHE CAN BECOME FINANCIALLY INDEPENDENT.MOST IMPORTANTLY THE DISPOSITION OF THE HOUSE:IS THE MAINTENANCE AND SUPPORT OF THE HOUSE SEPARATE FROM CHILD OR SPOUSAL SUPPORT.CAN I FORCE HER TO SELL IT,OR AM I OBLIGATED TO MAINTAIN HER IN THE HOME AS CUSTODIAL PARENT UNTIL MY CHILDREN REACH LEGAL AGE.

You did not indicate which state you are located in. In New York, child support will be determined by a complex formula taking into consideration the income of both parents.The catch is that although both incomes are taken into consideration, the non-residential parent has to pay his/her share to the residential parent. Spousal support will […]

Oct 30, 2018

Question #69: I’ve been married for 1 1/2 years. My husband wants a divorce, heisn’thappy. We bought a house before we got married. Both saved money and I put money that I received from a legal settlement. Am I legally entitled to that money?

Oct 30, 2018

Question #68: A friend of mine has been married for 8 months. she is getting a divorce. Is her engagement ring considered marital property? her grandfather gave her and her husband $25,000 when they got married. This is marital property, correct?

The engagement ring is a tricky question. If it is an asset acquired by the Bride- Wife prior to marriage and not during marriage as some courts have said, it is individual property and not Marital property. Other courts have said, however, it was given in anticipation of marriage and its transfer is understood to […]

Oct 30, 2018

Question #67: I have been married 26 years. I served my husband with divorce papers last Sept. He moved out last Dec. We are at the stage of either a trial or settle. He offered to settle 50/50 everything with child support til our last child is emancipated and no maintenance. He earned $112K last year and I earned $35K. He claims I am self supporting and I cant afford to live in the home the way I am use to. Should I be entitled to alimony?

In order to answer your question properly I would need more information. Assuming, however, that for the 26 years of marriage your husband supported you and the family and that you lived a lifestyle commensurate with his income, you would be entitled to some form of spousal support for a number of years to allow […]

Oct 30, 2018

Question #66: I have been married for just 3 years. My husband retained an attorney for a legal separation or whatever. He is not even sure himself. My question: We have a condo and the condo was purchased prior to our marriage and is in my name (deed and mortgage). A very minimal amount was put as a down payment and I can’t even give you a figure of his contribution to the downpayment, because it was so minimal. All costs were paid out of my personal checking account/savings. Is he entitled to any share of my home?

Property acquired prior to the marriage by one spouse and held in that spouse’s name is separate property, not marital property and your husband has no proprietary interest in it. He may have a monetary claim for part of the money he contributed to the upkeep or mortgage, or that was funded with marital property […]

Oct 30, 2018

Question #64: My husband and I have been married (NY) for 8 1/2 years. Due to his problems, we have not had sexual relations for at least 8 years. My husband has supported me for the entire marriage while I pursued an independent (and not self supporting) career interest. His present retirement assets (he is retired for the past 3 years) are nearly $1,000,000. For the first five years of our marriage (before he retired) he was still contributing to that account. Am I entitled to part of that account? I don’t want to break him, I just want a fresh start.

You are entitled to approximately half of all the assets acquired by your husband during the course of your marriage (i.e. 8.5 years). He is also obligated to provide you with some form of spousal maintenance until you can reasonably acquire the skills to become self supporting. You should seriously consider mediating your divorce with […]

Oct 30, 2018

Question #63: I have been married for 4 years in New York. 2 months ago my husband left me he is now living with his parents. I am curious about how you go about filing for a legal separation and then a Divorce. Also, I have student loans that were acquired before the marriage is he responsible for those payments? We also have a car loan and several credit cards that are primarily in my name with him as a cosigner. We have called the credit card companies to see if we can change the bill to his name and they will not do it. He has tried to get a loan in his name to consolidate these bills but they will not give it to him because of bad credit. What can I do so that I am not left with all of the debt? Also if I were to find out that he was with another woman that is adultery and how is that different from abandonment?

Any debts you incurred prior to the marriage are your individual debts; thus the student loans are your individual liability. If you are located in the NYC metropolitan area please call me at 212-370-1660 to discuss mediating your divorce. The issues you raise regarding outstanding liabilities and grounds for divorce can be resolved in mediation. […]

LEONARD M.WEINER, ESQ, Ph.D.

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FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY

Question #69: I’ve been married for 1 1/2 years. My husband wants a divorce, heisn’thappy. We bought a house before we got married. Both saved money and I put money that I received from a legal settlement. Am I legally entitled to that money?

Question #69: I’ve been married for 1 1/2 years. My husband wants a divorce, heisn’thappy. We bought a house before we got married. Both saved money and I put money that I received from a legal settlement. Am I legally entitled to that money?

Question #68: A friend of mine has been married for 8 months. she is getting a divorce. Is her engagement ring considered marital property? her grandfather gave her and her husband $25,000 when they got married. This is marital property, correct?