Is it an asset

[kcbillo]

What is the name of your state (only U.S. law)? Missouri
Getting divorced, 31 years wife worked part time a couple of years 10 years ago. Claiming disabled dur to Fibromyalgia. I make 80k and am sure i'll have to pay alimony no idea how much. A couple of years ago her dad put her name on some cd's he has, she is listed as a owner her name with his. Are these assets snce it happened during the marriage?

[ShyCat]

Gifts and inheritances are not considered marital property unless intermingled with marital property. Since the CDs are separate from any marital accounts, they remain her separate property.

[Bali Hai]

Originally Posted by ShyCat

Gifts and inheritances are not considered marital property unless intermingled with marital property. Since the CDs are separate from any marital accounts, they remain her separate property.

OP's inquiry about the asset is related to the possibility of an alimony award.

While the gift/inheritance would remain separate property of the wife, the asset IS considered a factor for the court's consideration for an alimony award.

Florida Alimony Guidelines 61.08:

d. The financial resources of each party, the non-marital and the marital assets and liabilities distributed to each.

[LdiJ]

Originally Posted by Bali Hai

OP's inquiry about the asset is related to the possibility of an alimony award.

While the gift/inheritance would remain separate property of the wife, the asset IS considered a factor for the court's consideration for an alimony award.

Florida Alimony Guidelines 61.08:

d. The financial resources of each party, the non-marital and the marital assets and liabilities distributed to each.

Not necessarily. My mother has put me on all of her accounts (I am also the executor of her will) for convenience sake, in case she becomes incapacitated or passes away, however all of that is mom's money.

If she can demonstrate that the money belongs to her father and she is only on the accounts for his convenience, then it would not go towards alimony either.

[Bali Hai]

Originally Posted by LdiJ

Not necessarily. My mother has put me on all of her accounts (I am also the executor of her will) for convenience sake, in case she becomes incapacitated or passes away, however all of that is mom's money.

If she can demonstrate that the money belongs to her father and she is only on the accounts for his convenience, then it would not go towards alimony either.

In that case, IF she is an "OWNER" with her father on the CD accounts (as the stated facts were by OP) for her father's "convenience" with no guarantee that she would receive any of the funds, then the alimony award should be modifiable should she actually receive any of the funds in the future.

There should also be a financial disclosure of the funds and court order that if any of the funds should be distributed from the CD accounts, their use must be tracked and verified.

[LdiJ]

Originally Posted by Bali Hai

In that case, IF she is an "OWNER" with her father on the CD accounts (as the stated facts were by OP) for her father's "convenience" with no guarantee that she would receive any of the funds, then the alimony award should be modifiable should she actually receive any of the funds in the future.

There should also be a financial disclosure of the funds and court order that if any of the funds should be distributed from the CD accounts, their use must be tracked and verified.

Or perhaps it would be simpler to simply state that the alimony is modifiable should she receive any inheritance when her father passes away.

An elderly person's funds should not be tied up in their children's divorce, just because they have added their child to the account for convenience purposes.

In fact, as far as I am concerned, it would be abusive to an elderly person to try to use the fact that your spouse was on their account to try to claim any monetary advantage from that account in a divorce.

If my mother passes away, I am one of 4 children. Just because my name is on her accounts may legally mean that the money belongs to me if she passes away, but it sure as heck doesn't morally belong to me and ALL of it will be included in her estate for equal distribution.

[Bali Hai]

Originally Posted by LdiJ

Or perhaps it would be simpler to simply state that the alimony is modifiable should she receive any inheritance when her father passes away.

An elderly person's funds should not be tied up in their children's divorce, just because they have added their child to the account for convenience purposes.

In fact, as far as I am concerned, it would be abusive to an elderly person to try to use the fact that your spouse was on their account to try to claim any monetary advantage from that account in a divorce.

If my mother passes away, I am one of 4 children. Just because my name is on her accounts may legally mean that the money belongs to me if she passes away, but it sure as heck doesn't morally belong to me and ALL of it will be included in her estate for equal distribution.

Or perhaps we should just get rid of the BS alimony altogether and make life simpler for everyone involved.

If someone refuses to work, they don't eat. That's one way to control the obesity problem in this country.