QUESTION
Can my ex take money from CD my dad & I had before we married, that matured after married and put in a separate savings account?
Asked on Jan 12th, 2013 on Divorce - Texas
More details to this question:
My dad put HIS OWN money into a CD with both our names on it. Then I got married. The CD matured AFTER I got married, and the money was put into a separate savings account with only mine and my dad’s name on the account with the understanding that I could only use this money towards a down payment on a house. No money has been added to the savings account after I got married and no house was bought. I am now in the process of divorce... can he take any of that money from mine and my dad’s savings account if all the money in that account came from the CD that was from before we were married? Help. He wants to take my dad’s hard earned money, and it’s just not right! His lawyer seems to telling him that since the money was put into a savings account after marriage, that he's entitled to 1/3! It wasn't new money though!
4 ANSWERS
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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Talk to your attorney. It sounds like your separate property money. You would have to trace it properly. If you can trace it, then your husband has no right to the money.
Answered on Jan 15th, 2013 at 3:29 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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You have what is known as a special equity in the funds, and he has no right to any of it.
Answered on Jan 15th, 2013 at 3:26 PM
Those funds should be separate property and not subject to division in the divorce.
Answered on Jan 15th, 2013 at 3:25 PM
That money is your separate property and not an asset divisible in dissolution.
Answered on Jan 15th, 2013 at 3:25 PM