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Divorce Question - 10/9/2007 10:04:32 AM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		I have a friend up in Massachusetts who's thinking about divorce.
He had $100k before the marriage which was invested in stocks, bonds mutual funds etc.
He thinks he may have to give up half of it in the divorce.
I told him that I don't think so as he had this money for 5-6 years before the marriage.
I told him that I thought anything acquired *in* the marriage would have to be divided as common property but not his investment account. But, I did tell him to talk to a lawyer first before proceeding to divorce.
What say you?

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RE: Divorce Question - 10/9/2007 10:12:56 AM   
SDFemDom4cuck


Posts: 2809
Joined: 5/23/2005
From: P'burgh PA
Status: offline 		I don't know about Mass but in Cali it is a matter of what is acquired within the marriage. A friend of mine is going through something similar here. Her considerable holdings prior to the marriage are not an issue for community property. Although thankfully she put in place a pre-nup prior to the marriage that spelled out exactly what was who's from the start. So while the principle investments themselves are not considered CP. The profits made on that principle, and any further assets and property obtained  throughout the term of the marriage are considered to be CP.

Note: I'm not an expert but this is my understanding of the given situation.

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RE: Divorce Question - 10/9/2007 10:15:52 AM   
breatheasone


Posts: 4004
Joined: 7/14/2007
Status: offline 		Popeye...it TRULY depends on the divorce laws governing that particular state....my best to your friend.

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RE: Divorce Question - 10/9/2007 10:19:15 AM   
IamJustMe2C


Posts: 94
Joined: 10/2/2007
Status: offline 		Laws very from state to state when I lived in Michigan it depended on the length of marriage as well as a few other things. Best thing to do in any case before the papers are signed transfer all money and house to a parent IE: sell the house and car the a parent for $1.00 that way she cant get her hands on it. He no longer owns the property and is the legal ownership or his parents and he rents it from them do the same with the investments. this was a loop I found in Michigan I dont know if it will hold there though

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RE: Divorce Question - 10/9/2007 10:26:27 AM   
chellekitty


Posts: 3923
Joined: 3/27/2005
Status: offline 		my understanding is unless there was a prenup...anything that was his before the marriage became theres after the legal cerimony and will be devided equally...but, as mentioned it can vary state to state...there are local lawyers that will give advice for a small fee...its worth it...tell your friend to open his phone book....

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RE: Divorce Question - 10/9/2007 10:41:51 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		IMO the attys will get it all.  [but then i am cynical]

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RE: Divorce Question - 10/9/2007 10:43:09 AM   
LaTigresse


Posts: 26123
Joined: 1/15/2006
Status: offline
quote:

ORIGINAL: breatheasone

Popeye...it TRULY depends on the divorce laws governing that particular state.


Very much so.


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RE: Divorce Question - 10/9/2007 11:52:13 AM   
KatyLied


Posts: 13029
Joined: 2/24/2005
From: Pennsylvania
Status: offline 		The best way to avoid this mess is not to get married in the first place.   

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RE: Divorce Question - 10/9/2007 2:21:00 PM   
seeksfemslave


Posts: 4011
Joined: 6/16/2006
Status: offline 		Expecting to lose what is rightfully yours results from an application  of cynical PC feminism or artful feminist PC thinking aided by  legislators who idealise wimmen.
One or the other, not sure which !

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RE: Divorce Question - 10/9/2007 2:29:15 PM   
DiurnalVampire


Posts: 8125
Joined: 1/19/2006
From: Nashville, TN
Status: offline 		When I divirced, the only things we split were what was aquired during the marriage.  If anything was provably his or mine beforehand we kept it. Everything else we divided more or less square.



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RE: Divorce Question - 10/9/2007 2:30:30 PM   
JackM1


Posts: 137
Joined: 2/3/2007
Status: offline 		there are many loop holes in this, but generally its everything that was gained during the marriage that has to be split up, not what was brought into it. like, if you owned the house before you got married, then you keep it, but if you bought a house together generally you would end up selling it and splitting the revenue. a prenup would help with all this stuff, but for those of us who dont start out with generous amounts of cash behind us, they seem rather silly at the time. its like laws about wedding rings, incase the engagement is broken off; if you receive the ring on a gift-giving holiday, then you keep it, but if its any other day you must give it back because it was a gift that came with the expectancy that you would marry that person, and because the expectancy wasnt met you must give it back(not sure how they deal with that during divorce, methinks most women would keep it out of spite and sell it, or throw it in their faces..either or).

you know, with all those laws about what to do when the relationship ends, you begin to wonder whether anyone really tries to stay together these days, or at least if they must devorce, stay civil and act like the adults they should be. sorta takes the romance out of getting married....

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RE: Divorce Question - 10/9/2007 2:33:43 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline
quote:

ORIGINAL: KatyLied

The best way to avoid this mess is not to get married in the first place.   


Katy, I agree, nothing like a good friendship and enjoying each other's company.

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RE: Divorce Question - 10/9/2007 2:33:55 PM   
laurell3


Posts: 6577
Joined: 5/5/2005
Status: offline
quote:

ORIGINAL: breatheasone

Popeye...it TRULY depends on the divorce laws governing that particular state....my best to your friend.

yup, states can vary dramatically.

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RE: Divorce Question - 10/9/2007 2:48:34 PM   
ChicagoSwitchMal


Posts: 417
Joined: 9/9/2007
Status: offline 		I would think that the 100K is his but the dividens earned during the marrage is split. But Im no expert.

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RE: Divorce Question - 10/9/2007 2:58:31 PM   
cyberdude611


Posts: 2596
Joined: 5/7/2006
Status: offline 		No matter what he is going to have to talk to a lawyer. Things like that get extremely complicated.

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RE: Divorce Question - 10/9/2007 3:14:48 PM   
marieToo


Posts: 3595
Joined: 5/21/2006
From: Jersey
Status: offline
quote:

ORIGINAL: popeye1250

I have a friend up in Massachusetts who's thinking about divorce.
He had $100k before the marriage which was invested in stocks, bonds mutual funds etc.
He thinks he may have to give up half of it in the divorce.
I told him that I don't think so as he had this money for 5-6 years before the marriage.
I told him that I thought anything acquired *in* the marriage would have to be divided as common property but not his investment account. But, I did tell him to talk to a lawyer first before proceeding to divorce.
What say you?


He should definitely ask an attorney.

If the wife can prove that she contributed in some fashion to the growth of those funds, she would likely be entitled to a share of the interest growth, but maybe not the principle amount that he owned before the marriage.  Of course this only applies if MA is an equitable distribution state.  If it's not, well, then he might be completely fucked.

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RE: Divorce Question - 10/9/2007 3:19:47 PM   
soultoshare


Posts: 519
Joined: 8/24/2006
Status: offline 		This is probably going to get sticky for your friend....regardless of the laws in the state, that isn't going to deter the soon to be ex, or the attorney from asking for 50% of everything even prior to the marriage.  The laws will assist the judge in making the final decision, but NOTHING is safe anymore.  Retirement benefits from jobs worked by one party are now eligible for split to the other party.

As far as selling everything to another family member, you want to watch that also.  States got wise to that loophole years ago, and now what you sell has to be sold for fair market value, not just 1 buck.  But anything done at this point will have the current date on it, so it will be seen as an attempt to hide assets from the other spouse.  While it may not be illiegal, the courts won't look favorably on it......at the most, maybe listing a second party on the stocks and bonds may prove to be some protection, but your friend is a fool if he doesn't get a GOOD laywer.

I wish him luck......women can be such bitches in a divorce......never have understood why!  Of course, my divorce was probably the friendliest one in the history of marriage, but I have friends who wanted everything they could get, whether it was theirs or not!

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RE: Divorce Question - 10/9/2007 3:20:42 PM   
UtopianRanger


Posts: 3251
Status: offline
quote:

ORIGINAL: KatyLied

The best way to avoid this mess is not to get married in the first place.   


That pretty much sums it up....


A close buddy of mine has always conduited all of his significant assets through /into his fathers family trust; which is controlled by his father - That way the assets are shielded from potential creditors / litigation, significant others, attorneys, etc.



- R



< Message edited by UtopianRanger -- 10/9/2007 3:23:42 PM >

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-General George S. Patton


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RE: Divorce Question - 10/9/2007 3:22:33 PM   
ChicagoSwitchMal


Posts: 417
Joined: 9/9/2007
Status: offline 		also not mentioned is if there are kids from the marrage. Then everything goes out the window. Even prenups. The kid(s) didn't sign the prenup. I've been thru a divorce and a custody battle. I know my states law well - well for a layperson that is. Good luck to your freind.  

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RE: Divorce Question - 10/9/2007 3:28:41 PM   
laurell3


Posts: 6577
Joined: 5/5/2005
Status: offline
quote:

ORIGINAL: soultoshare


I wish him luck......women can be such bitches in a divorce......never have understood why! 


Believe me when I tell you, men can be just as bad.  There's no winner in a divorce, everyone loses.

Attempting to hide assets can get you in serious trouble, and gain you disfavor with the court.  These judges hear divorce crap all day every day, putting yourself on their low tolerance radar screen is a bad idea.

Some states have odd "co-mingling" rules as well regarding premaritial assets, if MA is even a pre-maritial state.  Prenups are only as good as the circumstances that existed when they were entered into, if that.

The best advice your friend can get is don't skimp on an attorney and get one right away.
l 

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