QUESTION
After I am married, am I entitled to part of the interest on his money market account or can he keep it all and reinvest?
Asked on Jan 19th, 2013 on Divorce - Texas
8 ANSWERS
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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If the interest is on separate money obtained prior to marriage the interest is his.
Answered on Jan 24th, 2013 at 7:05 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Generally income which accrues during the marriage is joint. On the other hand, if he has investment accounts which are in his own name and which accrued previous to the marriage, those accumulations would generally be separate property as well. You really need to have an attorney looked into the situation to determine your rights. As an aside, as you are not yet married yet concerned about this, I would suggest that you might rethink entering into the relationship. Such concerns do not bode well for a planned life union.
Answered on Jan 22nd, 2013 at 4:34 PM
His current accounts are his separate property and will remain so unless he adds community funds to them or in other ways comingles them with community property. So long as the accounts remain separate they are not an asset to which you are entitled.
Answered on Jan 22nd, 2013 at 1:44 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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If he keeps it as separate property and not as community property, then you may not have any rights to it.
Answered on Jan 22nd, 2013 at 1:43 PM
The funds existing in his money market are premarital property (sole and separate). This means that the funds in the account, as well as any income (e.g. interest) earned on those funds, is also his sole and separate property and he can do whatever he wants with it (reinvest, spent, share, etc).
Answered on Jan 22nd, 2013 at 1:42 PM
Alternative Dispute Resolution Attorney serving Ventura, CA
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Zahn Law Office
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Property acquire prior to marriage (and interest on it) is separate property.
Answered on Jan 22nd, 2013 at 1:42 PM
Dennis P. Mikko
If the account was his prior to the marriage and he keeps the account separate and not part of the marital estate, he would be able to keep the interest from the account and could reinvest it if he wanted. Marriage alone will not entitle you to his separate property.
Answered on Jan 22nd, 2013 at 1:41 PM
Divorce Attorney serving Frisco, TX
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Mackoy, Hernandez, Jones and Woods LLP
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Interest earned is community property and is jointly owned by the parties. The funds in the account prior to the marriage are the separate property of the person who owns them.
Answered on Jan 22nd, 2013 at 11:35 AM