any asset protected from divorce?

[OS]

For example, I believe retirement accounts such as 401K, IRA are protected from creditors in bankruptcy. Is there any asset that has the same protection in a divorce?

 

[DevilsAdvocate]

No.

 

[Pacfanweb]

Inheritance is, if it was left to one person specifically. But if say, a man's father dies, and leaves him some money....his wife can't touch that money as long as he keeps it separate from any joint money. But if he f's up and deposits it in a joint account, I believe that it's then marital property.

Also, I don't know if this varies by state, but pretty much anything you had before you got married is always yours. Land, money, personal property.....as long as you keep it separate and don't put the other's name on it. One exception is your primary residence. The spouse is automatically entitled to a piece of that once you're married, even if you owned it prior to marriage. (that's the way it is in North Carolina, anyway)
Might be some law that says basically take a snapshot of what it's worth the day you're married....and that amount is always yours alone, but any increase in value is divided 50/50.
If that isn't how it is everywhere, it should be.

Retirement accounts might be tricky....for example, I had a 401k before my first marriage....when my wife decided to leave, we had to consult lawyers about what each other was entitled to.
In my case, she was entitled to 1/2 of what had been contributed to the 401k since the marriage plus interest. (IIRC)
Her 401k was considered marital money, since she hadn't gotten that job and started it until after we were married. So I was entitled to 1/2 of it.
In our case, we just agreed to leave each other's 401k's alone. Neither were worth very much back then, and certainly weren't enough to warrant the hassle.

 

[loup garou]

Not even your testicles!

 

[amol]

Originally posted by: werk
Not even your testicles!

You mean, she takes 1? :Q

 

[loup garou]

Originally posted by: Amol

Originally posted by: werk
Not even your testicles!

You mean, she takes 1? :Q

If you're lucky!

 

[OS]

Originally posted by: Pacfanweb
Inheritance is, if it was left to one person specifically. But if say, a man's father dies, and leaves him some money....his wife can't touch that money as long as he keeps it separate from any joint money. But if he f's up and deposits it in a joint account, I believe that it's then marital property.

Also, I don't know if this varies by state, but pretty much anything you had before you got married is always yours. Land, money, personal property.....as long as you keep it separate and don't put the other's name on it.

Retirement accounts might be tricky....for example, I had a 401k before my first marriage....when my wife decided to leave, we had to consult lawyers about what each other was entitled to.
In my case, she was entitled to 1/2 of what had been contributed to the 401k since the marriage plus interest. (IIRC)
Her 401k was considered marital money, since she hadn't gotten that job and started it until after we were married. So I was entitled to 1/2 of it.
In our case, we just agreed to leave each other's 401k's alone. Neither were worth very much back then, and certainly weren't enough to warrant the hassle.

Thanks for the insight.

So if I bought a house before I got married, as long as it is in my name only, the wife cannot touch it in the event of a divorce, even if we lived in it?

nm, saw your edit. That's retarded about the increased value, since it's not like any work was contributed in most cases of appreciation.

 

[everman]

You need an attorney to do these things, it's not something you want to screw up. You can use things like a trust.

 

[DevilsAdvocate]

Originally posted by: OS

Originally posted by: Pacfanweb
Inheritance is, if it was left to one person specifically. But if say, a man's father dies, and leaves him some money....his wife can't touch that money as long as he keeps it separate from any joint money. But if he f's up and deposits it in a joint account, I believe that it's then marital property.

Also, I don't know if this varies by state, but pretty much anything you had before you got married is always yours. Land, money, personal property.....as long as you keep it separate and don't put the other's name on it.

Retirement accounts might be tricky....for example, I had a 401k before my first marriage....when my wife decided to leave, we had to consult lawyers about what each other was entitled to.
In my case, she was entitled to 1/2 of what had been contributed to the 401k since the marriage plus interest. (IIRC)
Her 401k was considered marital money, since she hadn't gotten that job and started it until after we were married. So I was entitled to 1/2 of it.
In our case, we just agreed to leave each other's 401k's alone. Neither were worth very much back then, and certainly weren't enough to warrant the hassle.

Thanks for the insight.

So if I bought a house before I got married, as long as it is in my name only, the wife cannot touch it in the event of a divorce, even if we lived in it?

nm, saw your edit. That's retarded about the increased value, since it's not like any work was contributed in most cases of appreciation.

Speaking as an actual divorce attorney, you are better off seeking professional advice from an attorney licensed in your state. It is risky - even stupid - to seek legal advice on a geek forum, populated by non-lawyers.

Property rights vary greatly from state to state. Some are "community property" jurisdictions, and others are not. Some states have liberal alimony laws, and some don't.

Just call a lawyer. Don't be an idiot.

 

[Pacfanweb]

Originally posted by: OS

Originally posted by: Pacfanweb
Inheritance is, if it was left to one person specifically. But if say, a man's father dies, and leaves him some money....his wife can't touch that money as long as he keeps it separate from any joint money. But if he f's up and deposits it in a joint account, I believe that it's then marital property.

Also, I don't know if this varies by state, but pretty much anything you had before you got married is always yours. Land, money, personal property.....as long as you keep it separate and don't put the other's name on it.

Retirement accounts might be tricky....for example, I had a 401k before my first marriage....when my wife decided to leave, we had to consult lawyers about what each other was entitled to.
In my case, she was entitled to 1/2 of what had been contributed to the 401k since the marriage plus interest. (IIRC)
Her 401k was considered marital money, since she hadn't gotten that job and started it until after we were married. So I was entitled to 1/2 of it.
In our case, we just agreed to leave each other's 401k's alone. Neither were worth very much back then, and certainly weren't enough to warrant the hassle.

Thanks for the insight.

So if I bought a house before I got married, as long as it is in my name only, the wife cannot touch it in the event of a divorce, even if we lived in it?

nm, saw your edit. That's retarded about the increased value, since it's not like any work was contributed in most cases of appreciation.

Hey, just because it seems retarded doesn't mean it isn't perfectly legal. And I would definitely get a lawyer if you are getting ready to have this happen, as Devils Advocate posted.
States definitely have vastly different view on these matters. What I tell you that holds true in my state might be absolutely ass-backward in another.

 

[OS]

Originally posted by: DevilsAdvocate

Originally posted by: OS

Originally posted by: Pacfanweb
Inheritance is, if it was left to one person specifically. But if say, a man's father dies, and leaves him some money....his wife can't touch that money as long as he keeps it separate from any joint money. But if he f's up and deposits it in a joint account, I believe that it's then marital property.

Also, I don't know if this varies by state, but pretty much anything you had before you got married is always yours. Land, money, personal property.....as long as you keep it separate and don't put the other's name on it.

Retirement accounts might be tricky....for example, I had a 401k before my first marriage....when my wife decided to leave, we had to consult lawyers about what each other was entitled to.
In my case, she was entitled to 1/2 of what had been contributed to the 401k since the marriage plus interest. (IIRC)
Her 401k was considered marital money, since she hadn't gotten that job and started it until after we were married. So I was entitled to 1/2 of it.
In our case, we just agreed to leave each other's 401k's alone. Neither were worth very much back then, and certainly weren't enough to warrant the hassle.

Thanks for the insight.

So if I bought a house before I got married, as long as it is in my name only, the wife cannot touch it in the event of a divorce, even if we lived in it?

nm, saw your edit. That's retarded about the increased value, since it's not like any work was contributed in most cases of appreciation.

Speaking as an actual divorce attorney, you are better off seeking professional advice from an attorney licensed in your state. It is risky - even stupid - to seek legal advice on a geek forum, populated by non-lawyers.

Property rights vary greatly from state to state. Some are "community property" jurisdictions, and others are not. Some states have liberal alimony laws, and some don't.

Just call a lawyer. Don't be an idiot.

Fair enough, at first I was wondering if there were any quick and dirty rules. Apparently not.

 

[DevilsAdvocate]

Originally posted by: OS

Originally posted by: DevilsAdvocate

Originally posted by: OS

Originally posted by: Pacfanweb
Inheritance is, if it was left to one person specifically. But if say, a man's father dies, and leaves him some money....his wife can't touch that money as long as he keeps it separate from any joint money. But if he f's up and deposits it in a joint account, I believe that it's then marital property.

Also, I don't know if this varies by state, but pretty much anything you had before you got married is always yours. Land, money, personal property.....as long as you keep it separate and don't put the other's name on it.

Retirement accounts might be tricky....for example, I had a 401k before my first marriage....when my wife decided to leave, we had to consult lawyers about what each other was entitled to.
In my case, she was entitled to 1/2 of what had been contributed to the 401k since the marriage plus interest. (IIRC)
Her 401k was considered marital money, since she hadn't gotten that job and started it until after we were married. So I was entitled to 1/2 of it.
In our case, we just agreed to leave each other's 401k's alone. Neither were worth very much back then, and certainly weren't enough to warrant the hassle.

Thanks for the insight.

So if I bought a house before I got married, as long as it is in my name only, the wife cannot touch it in the event of a divorce, even if we lived in it?

nm, saw your edit. That's retarded about the increased value, since it's not like any work was contributed in most cases of appreciation.

Speaking as an actual divorce attorney, you are better off seeking professional advice from an attorney licensed in your state. It is risky - even stupid - to seek legal advice on a geek forum, populated by non-lawyers.

Property rights vary greatly from state to state. Some are "community property" jurisdictions, and others are not. Some states have liberal alimony laws, and some don't.

Just call a lawyer. Don't be an idiot.

Fair enough, at first I was wondering if there were any quick and dirty rules. Apparently not.

No down and dirty rules. Each state has its own rules, and the feds pretty much stay out of it, unless you cross over into ERISA / tax issues.

 

[Apathetic]

Originally posted by: OS

Originally posted by: Pacfanweb
Inheritance is, if it was left to one person specifically. But if say, a man's father dies, and leaves him some money....his wife can't touch that money as long as he keeps it separate from any joint money. But if he f's up and deposits it in a joint account, I believe that it's then marital property.

Also, I don't know if this varies by state, but pretty much anything you had before you got married is always yours. Land, money, personal property.....as long as you keep it separate and don't put the other's name on it.

Retirement accounts might be tricky....for example, I had a 401k before my first marriage....when my wife decided to leave, we had to consult lawyers about what each other was entitled to.
In my case, she was entitled to 1/2 of what had been contributed to the 401k since the marriage plus interest. (IIRC)
Her 401k was considered marital money, since she hadn't gotten that job and started it until after we were married. So I was entitled to 1/2 of it.
In our case, we just agreed to leave each other's 401k's alone. Neither were worth very much back then, and certainly weren't enough to warrant the hassle.

Thanks for the insight.

So if I bought a house before I got married, as long as it is in my name only, the wife cannot touch it in the event of a divorce, even if we lived in it?

nm, saw your edit. That's retarded about the increased value, since it's not like any work was contributed in most cases of appreciation.

Umm... These type of things vary dramatically from state to state. Be careful about your assumtions.

Dave

 

[BriGy86]

Originally posted by: Pacfanweb
Inheritance is, if it was left to one person specifically. But if say, a man's father dies, and leaves him some money....his wife can't touch that money as long as he keeps it separate from any joint money. But if he f's up and deposits it in a joint account, I believe that it's then marital property.

Also, I don't know if this varies by state, but pretty much anything you had before you got married is always yours. Land, money, personal property.....as long as you keep it separate and don't put the other's name on it. One exception is your primary residence. The spouse is automatically entitled to a piece of that once you're married, even if you owned it prior to marriage. (that's the way it is in North Carolina, anyway)
Might be some law that says basically take a snapshot of what it's worth the day you're married....and that amount is always yours alone, but any increase in value is divided 50/50.
If that isn't how it is everywhere, it should be.

Retirement accounts might be tricky....for example, I had a 401k before my first marriage....when my wife decided to leave, we had to consult lawyers about what each other was entitled to.
In my case, she was entitled to 1/2 of what had been contributed to the 401k since the marriage plus interest. (IIRC)
Her 401k was considered marital money, since she hadn't gotten that job and started it until after we were married. So I was entitled to 1/2 of it.
In our case, we just agreed to leave each other's 401k's alone. Neither were worth very much back then, and certainly weren't enough to warrant the hassle.

sounds like your ex wasn't a complete bitch and tried to take you for everything you're worth

:thumbsup:

 

[mrrman]

Thanks for the insight.

So if I bought a house before I got married, as long as it is in my name only, the wife cannot touch it in the event of a divorce, even if we lived in it?

nm, saw your edit. That's retarded about the increased value, since it's not like any work was contributed in most cases of appreciation.

Not true...after 6 months of living together/married she is entitled to 1/2 of everything unless a prenup or agreement is drawn up...otherwise its a lengthy court battle and the lawyers win everything...as usual

 

[Fingolfin269]

Originally posted by: mrrman
Thanks for the insight.

So if I bought a house before I got married, as long as it is in my name only, the wife cannot touch it in the event of a divorce, even if we lived in it?

nm, saw your edit. That's retarded about the increased value, since it's not like any work was contributed in most cases of appreciation.

Not true...after 6 months of living together/married she is entitled to 1/2 of everything unless a prenup or agreement is drawn up...otherwise its a lengthy court battle and the lawyers win everything...as usual

I thought this was true in most states but in TN I believe the time limit is 7 years. If a marriage is less than 7 years the courts simply try to put the couple back into the same position they would have been before the marriage. That way just because you're married for a year doesn't mean your wife/husband can take everything you own from you.