QUESTION

Protecting my investement for my son.

Asked on May 15th, 2012 on Divorce - Virginia
More details to this question:
I have a 14 year old son from a previous marriage. During the divorce proceedings eventhough I offered, my ex-wife never accepted any child support. After the divorce, I have been keeping some money aside for my son in a checking account under my name.. I never invested this in any edducation plan because, intially I was told that they will leave this country. This savings come to around $30,000. My current marriage is heading to a divorce and I am sure this time my current wife will go for all the money I have.. How can I protect the money I have been saving for my son.
Report Abuse

1 ANSWER

Construction Law Attorney serving Virginia Beach, VA at Wolcott Rivers Gates, Attorneys at Law
Update Your Profile
If you established an account prior to your second marriage, and it was funded only prior to the second marriage, a court would likely find that it is your separate money, and the second wife would have no claim to that account.  If the account was funded in part during the second marriage from your earnings, than it is either wholly marital, or if you provide a proper accounting of which parts were premarital and which parts were marital, then the court could find it part separate and part marital, and your second wife would have no interest in the separate part.  If you contend it is not your money, and you were holding it in trust for a third party,  you would need to show that you did not treat it as your own. Consult your lawyer for details.     This answer is given in accordance with the laws of Virginia, and is based on the facts that are recited, and assumptions which may or may not be accurate. Accordingly, this response may not be relied upon and may not be applicable in any other state. It should not be relied on as legal advice, as that would require a detailed analysis of all of the facts involved in a specific case, not just the limited facts presented in the question.  
Answered on May 15th, 2012 at 3:49 PM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters