After marring for almost 9-10 years, one of our family friend is considering separation with her husband. Right now they live together in an apartment and doesn't have any property. She has a legal question.Husband and wife are employed and maintain separate bank accounts.Recently husband finished his MBA and started earning more money than wife. Wife makes almost half of husband's salary. Wife supported him during his MBA studies.Husband started showing true colors and wanted separation for unknown reasons.Husband frequently sends money over seas and maintain low bank balances in US.
Where as Wife has been saving her hard earned money in her US bank for future
She is wondering what will happen to her bank savings if husband initiates divorce?
What are her options to protect 100% savings
California is a community property state, the rest of the issues are very important to sit down with a local San mateo attny and discuss the specifics, who earned what when and how it was spent etc. take care.
Legal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Massachusetts. Responses are based solely on Massachusetts law unless stated otherwise.
Family Law Attorney
Wife's earnings during the marriage before separation are Community Property in which Husband has a 50% community interest. The fact that the parties had separate bank accounts is immaterial. The money Husband sent overseas is community property, or if he gave that money away without Wife's knowledge or consent, he violated his fiduciary duty to the community and owes 1/2 of those funds to Wife. Loans to finance Husband's MBA education would likely be held to be Husband's separate obligation. Wife may be entitled to Spousal Support. Wife should retain an experienced Family Law Attorney to advise and represent her.
Please note that this answer does not constitute legal advice, and should not be relied on, as each situation is fact specific, and it is not possible to evaluate a legal problem without a comprehensive consultation and review of all the facts and court pleadings filed in the case. This answer does not create an attorney-client relationship.
Divorce / Separation Lawyer
It does not matter what account the money is held in, it is divided equally 50-50. If he made inappropriate disbursements from the account overseas that she did not approve of and did not benefit the community he will owe one half that money back to her even though it no longer exists in the bank account. The court will make an adjustment. If accounting becomes difficult it may be necessary to hire am accountant of CPA to unravel all the true facts.
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