Questions and Answers

Will I get to keep my personal assets obtained prior to our marriage? Will the assets acquired since be split 50-50?

I married when I was 40 and had acquired a fair amount of assets which is documented.

In the 10 years of being married, my wife and I have generally made the same amount of money and split the expenses.

ANSWER

Without commenting on the law in the Community Property states, generally speaking all property acquired before the marriage is non-marital property since it is pre-marital. However, if you have co-mingled your pre-marital property with marital property, you may have changed the nature of the property into “marital” property. You will need to speak to a lawyer in your area so s/he can get more facts and advise you accordingly.

You explain that you and your wife have similar incomes, and that being the case, there would little or no reason to split the assets acquired after the marriage in any other way other than 50/50. The reason for this is because Family Courts are courts or equity and their main objective is to create a fair or equitable resolution at the time of divorce. Therefore, if your situation was different … for example, if you had a lot of pre-marital assets and you made significantly more than your spouse, the Court may divide the marital assets 60/40 or 65/35 in an effort to mitigate the disparity in both assets and income.

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