QUESTION
What can I do to protect my premarital stock?
Asked on Feb 14th, 2014 on Litigation - Rhode Island
More details to this question:
I have premarital reinvested stock and stock funds in my name only. I never put any money into them and never received a stream of income from them. I've been married for 22 yrs. Is there a way to protect them?
7 ANSWERS
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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It would have been best if you had a prenuptial agreement that included these stocks. However, as a general rule property that you bring into a marriage remains your separate property. If you can demonstrate through a paper trail that no community funds were added to the accounts then generally speaking these funds should be found to be your separate property. You should consult with an experienced Arizona family law attorney to review this issue.
Answered on Feb 20th, 2014 at 6:05 PM
Domestic Relations Attorney serving Omaha, NE
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Diane L. Berger
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It sounds as of they are protected as premarital property.
Answered on Feb 20th, 2014 at 4:55 PM
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Yes. If it was premarital, the only part that is divisible is if you had put money in or received income out. So based on the facts as you described, they should remain yours and separate from the divisible marital estate. Best wishes.
Answered on Feb 19th, 2014 at 7:18 PM
Michael J. Breczinski
In many States this would be considered your separate property.
Answered on Feb 19th, 2014 at 7:13 PM
They are by definition your separate property. You may need to prove when you got it if spouse contends the separate property claim.
Answered on Feb 19th, 2014 at 5:45 PM
You should continue to keep the account separate. You should not purchase any additional stock with marital funds. If you take out money, you should avoid spending it on joint assets or putting it into a joint account, unless you are willing to have that distribution or that asset divided equally. If the account is in your name, and if you should get divorced, you have a strong argument that the stock account is not marital property, but that it is your separate property.
Answered on Feb 19th, 2014 at 5:43 PM
James Edward Smith
They are already protected.
Answered on Feb 19th, 2014 at 5:43 PM