prop division questions....

[Johndeere720]

What is the name of your state? OHIO - GO BUCKS!

Wife and I splitting up - have a few questions.


1) The first year of our marriage - my wife was in graduate school...she incurred 30K that first year of our marriage...total debt is 90k, 30 k from during the marriage....would I be held responsible for this in any way?


2) I had a lawsuit against a car dealer filed before we were married. The settlement of 10k was awarded 1 year into the marriage and this 10k was used to buy a piece of land. Are the funds from the settlement considered separate property becasue the lawsuit was started before marriage - or are they joint because it was settled during the marriage.

3) 401k balance was 50 k at marriage....are the returns/gains on the 50k marital? The balance is now 100k, but that original 50k has turned into 65 k now. Are these gains separate property?


4) We have 3 cars, 2 are old, 1 is newer. Wife drives the newer one. It was bought before marriage, but payments were made during the marriage...title is in my name. If I need to pay an attorney a retainer - can I sell this car and use the proceeds to pay the atty? Wife could then drive one of the older cars....probably would sell it, but if it came to it, is this fair and ethical?


Thanks in advance....

[LdiJ]

Originally Posted by Johndeere720

What is the name of your state? OHIO - GO BUCKS!

Wife and I splitting up - have a few questions.


1) The first year of our marriage - my wife was in graduate school...she incurred 30K that first year of our marriage...total debt is 90k, 30 k from during the marriage....would I be held responsible for this in any way?

It can be argued either way.

2) I had a lawsuit against a car dealer filed before we were married. The settlement of 10k was awarded 1 year into the marriage and this 10k was used to buy a piece of land. Are the funds from the settlement considered separate property becasue the lawsuit was started before marriage - or are they joint because it was settled during the marriage.

Another one that could be argued either way....although I would think that it would be more likely to be considered premarital. However, how is the land deeded and were any marital funds spent on maintaining the land?...or paying property taxes on the land?

3) 401k balance was 50 k at marriage....are the returns/gains on the 50k marital? The balance is now 100k, but that original 50k has turned into 65 k now. Are these gains separate property?

Its normally not done that way, but a good attorney could make a valid argument that the gains on the 50k are not marital.

4) We have 3 cars, 2 are old, 1 is newer. Wife drives the newer one. It was bought before marriage, but payments were made during the marriage...title is in my name. If I need to pay an attorney a retainer - can I sell this car and use the proceeds to pay the atty? Wife could then drive one of the older cars....probably would sell it, but if it came to it, is this fair and ethical?


Thanks in advance....

I would absolutely NOT recommend doing that. That one could cause you grief.