Marital or Non-Marital Asset

[ComputerD]

What is the name of your state? Illinois

I was engaged on Dec. 19, 2003. My fiance and I purchased stock April 18, 1994. We were married on October 21, 1994. We are now going through a divorce and I am being told by my husband's lawyer that our stock purchase is not a martial asset. I foolishly did not require the stock to be put in my name. When the stock was purchased it was taken from his checking account. My name had not been put on the checking account yet. Is it still considered a non-marital asset even though we were engaged? Any advice would be appreciated.

 

[BelizeBreeze]

Nope. It's all his. HOWEVER, what his attorney is not telling you is the change in circumstances (the rise in value) of the stock COULD be considered marital assets.

If you used part of your income to purchase the stocks and Have PROOF of that, then you may be able to make a case of marital assets for the change in value.

Of course, an attorney might help....get the idea?

 

[Shel77]

You said my fiance' and I purchased stock and it was paid for by his checking account. The stock is not in your name and the checking account was not joint yet either. I would think that a marital asset would mean just that and being engaged would have nothing to do with it. However , you did not state what portion of the orgional stock you paid for, 50/50? How did you pay for it? Did you give him your portion of the money did you have money in his checking account? If you can prove you paid for a portion of it reguardless of marriage you should be entitled to your share. However, since nothing was in your name at the time if you can't prove it, it looks like he purchased this on his own prior to marriage.