QUESTION
Am I entitled to 1/2 of the stock (marriage assets)?
Asked on Feb 08th, 2014 on Divorce - Florida
More details to this question:
My husband received $6800 in stock through his company. I am about to file for divorce. He recently sold $4200 of that $6800. What can I do?
8 ANSWERS
Dispute Resolution Attorney serving Seattle, WA
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Law Offices of Helene Ellenbogen P.S.
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Where did the proceeds from the sale of stock go? Decisions within the marriage (unless they are clearly inimical to the marital community) can not be revisited by the court. However, everything earned during the marriage is community property to which each party has a right (not necessarily 50%). This includes retirement, stocks, options, etc.
Answered on Feb 11th, 2014 at 4:33 PM
Family Law Attorney serving Peoria, AZ
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The Law Firm of Jessica M. Cotter, P.L.L.C.
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You should consult with an experienced Arizona family law attorney to discuss how to proceed. It appears that this stock is community property, so it may depend on what he used the sale proceeds for. If, for example, he used those funds to pay a community obligation, then that is an appropriate us of community funds. If he used those funds other than for community purposes, then the court could order an offset of other assets to replace what would have been your share of the funds.
Answered on Feb 11th, 2014 at 4:33 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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You can claim that as a martial asset ... assuming he earned it during the marriage.
Answered on Feb 11th, 2014 at 4:33 PM
Family Law Attorney serving Thousand Oaks, CA
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Law Office of Terry A. Buchanan
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As you have not served your spouse with divorce papers the automatic restraining orders in CA do not apply. If your spouse breached his/hr fiduciary duty to you in selling the stock an retained attorney can provide you with an in depth analysis of its relationship to your facts. I don't see that you can do anything now about those sold stocks or the money. With financial records you can trace the movement of the resulting cash and it's eventual use - or paying bills or trip to Vegas. Good luck.
Answered on Feb 11th, 2014 at 4:33 PM
Personal Injury Attorney serving San Antonio, TX
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Law Offices of James P. Peterson
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The court will divide whatever is left based on fairness and justice.
Answered on Feb 11th, 2014 at 4:32 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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At this point, not much. It was sold and became community property. If he still has the cash when you get divorced, you are entitled to half of it. If he spent it, it is presumed that he spent it on community needs. If he bought something with it, you will be entitled to one-half of the value of what he bought.
Answered on Feb 11th, 2014 at 4:32 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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He has simply converted the asset (stock) to another asset (money). Claim your half and get moving on your divorce and getting an order in place.
Answered on Feb 11th, 2014 at 4:31 PM
Social Security Disability Attorney serving Melbourne, FL
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Law Office of Robert E. McCall
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Florida has a three year look back provision allowing inclusion of all transactions. File a Motion to the court asserts he is depleting assets and you want equitable distribution of that amount.
Answered on Feb 11th, 2014 at 4:31 PM