What is considered marital assets? My husband put his fathers name on the business, but he is a green card holde. If we divorce what does taht mean?

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What is considered marital assets? My husband put his fathers name on the business, but he is a green card holde. If we divorce what does taht mean?

Asked on May 15, 2009 under Family Law

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

Marital assets refers to all property acquired during the course of the marriage, regardless of ownership or who holds the title to it. Examples of marital assets may include, among others, house(s), cash, stocks, bonds, cars, pensions, and insurance. Most courts also treat the increase in value of a premarital asset as a marital asset.

In community property states, assets are categorized as separate property and not a marital asset if a) it was acquired before marriage, b) it was acquired by inheritance, c) it was a gift, d) it consists of assets traceable to other separate property such as money received from sale of a house owned before marriage, and e) the spouses agree is separate property.

In your case, if the business was acquired during the time that you were married it would be considered to be a marital assets regardless of the fact that you husband put it in his father's name.

 


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