Question from Marie, Can I Obtain My Husband’s Owed Stocks in a Divorce in the USA?
Answer from AI:
In general, the division of assets, including stocks, in a divorce is determined by the laws of the state where the divorce is filed. In the United States, states follow either “community property” or “equitable distribution” laws.
Community Property States
In community property states, all assets acquired during the marriage are typically considered joint property and are divided equally in a divorce. This includes stocks. However, if your husband owes you stocks, it may depend on the nature of the debt. If it’s a result of a legal agreement made during the marriage, it might be considered a marital debt and could be divided equally.
Equitable Distribution States
In equitable distribution states, assets are divided based on what the court considers fair, which may not necessarily be equal. The court will consider various factors, such as the length of the marriage, each spouse’s economic circumstances, and the contribution of each spouse to the acquisition of the marital property.
It’s crucial to consult with a divorce attorney who can provide advice based on your specific circumstances. They can help you understand how the laws in your state apply to your situation and what you can expect in terms of asset division.
Steps to Take
- Identify all marital assets and debts: This includes stocks, real estate, bank accounts, and any other assets, as well as any debts.
- Understand your state’s laws: Research or consult with a lawyer to understand how your state’s laws will affect the division of assets and debts.
- Prepare for negotiation: Depending on your state’s laws and your specific circumstances, you may need to negotiate the division of assets and debts with your spouse.
Remember, this information is general in nature and may not apply to your specific situation. Always consult with a legal professional for personalized advice.