Bonuses received by wife

[JimG]

NH resident here

Wife and I are divorcing amicably and I have a question about money that each of us is earning currently while still legally married. Right now we still have joint accounts and access to same lines of credit, etc.

She earns twice as much as i do and receives sizeable bonus checks from her company for various projects she works on. In December she received one and we used the money to pay off some bills to position us better moving forward.

At the end of March she is scheduled to receive another one and she said "this one's mine", seeming to imply she was going to keep the money for her own use.

Since we are legally married yet living apart, don't you think it would be wise for her to leave the money in an account until the divorce is settled? It would seem to be money that cannot be used by one person and not the other at this point and based on the current "married" status.

 

[mistoffolees]

NH resident here

Wife and I are divorcing amicably and I have a question about money that each of us is earning currently while still legally married. Right now we still have joint accounts and access to same lines of credit, etc.

She earns twice as much as i do and receives sizeable bonus checks from her company for various projects she works on. In December she received one and we used the money to pay off some bills to position us better moving forward.

At the end of March she is scheduled to receive another one and she said "this one's mine", seeming to imply she was going to keep the money for her own use.

Since we are legally married yet living apart, don't you think it would be wise for her to leave the money in an account until the divorce is settled? It would seem to be money that cannot be used by one person and not the other at this point and based on the current "married" status.

Has one of you filed for divorce yet?

 

[mommyof4]

And regardless of the legal order, what is to stop you from acting with some integrity and just refusing to touch the money, even if half is awarded to you? What would stop YOU from giving 'your' half back to her or refusing that half in any settlement in the future?

 

[LdiJ]

NH resident here

Wife and I are divorcing amicably and I have a question about money that each of us is earning currently while still legally married. Right now we still have joint accounts and access to same lines of credit, etc.

She earns twice as much as i do and receives sizeable bonus checks from her company for various projects she works on. In December she received one and we used the money to pay off some bills to position us better moving forward.

At the end of March she is scheduled to receive another one and she said "this one's mine", seeming to imply she was going to keep the money for her own use.

Since we are legally married yet living apart, don't you think it would be wise for her to leave the money in an account until the divorce is settled? It would seem to be money that cannot be used by one person and not the other at this point and based on the current "married" status.

If you have already filed for divorce,when she receives the bonus, then her salary and bonuses from that point on are her own, as are her debts from that point on as well.

The marital assets and debts are those that existed prior to the divorce filing.

If you have not filed prior to her receiving the bonus, then it would be a marital asset that she would have to account for, but she doesn't have to put it in a bank account and avoid spending it.

 

[Ohiogal]

If you have already filed for divorce,when she receives the bonus, then her salary and bonuses from that point on are her own, as are her debts from that point on as well.

The marital assets and debts are those that existed prior to the divorce filing.

If you have not filed prior to her receiving the bonus, then it would be a marital asset that she would have to account for, but she doesn't have to put it in a bank account and avoid spending it.

NOT necessarily. it could be considered marital until the date of the divorce.

 

[mistoffolees]

NOT necessarily. it could be considered marital until the date of the divorce.

Depending on, for example, the dates of the work that earned the bonus.

For example, let's say for simplicity that the divorce was filed on January 1, 2008. She receives a bonus in March, 2008 (or even later) for work completed in the previous Calendar year (2007). Since the work that earned the bonus was entirely within the marriage, then one could make a very strong case that it is marital income.

(This was my situation, but in reverse - I ended up paying half of a bonus that was earned while still married, but paid after the divorce was filed.

 

[Ohiogal]

Depending on, for example, the dates of the work that earned the bonus.

For example, let's say for simplicity that the divorce was filed on January 1, 2008. She receives a bonus in March, 2008 (or even later) for work completed in the previous Calendar year (2007). Since the work that earned the bonus was entirely within the marriage, then one could make a very strong case that it is marital income.

(This was my situation, but in reverse - I ended up paying half of a bonus that was earned while still married, but paid after the divorce was filed.

Depending on also when the court finds the marriage ended -- meaning many courts find that the marriage ended with the date of the ACTUAL divorce trial. And not with the FILING of the divorce. Hence anything up until the date of the DIVORCE TRIAL is marital. Now there may be restraining orders in place prohibiting dissipation of assets and acquisitions of debts.

 

[LdiJ]

Depending on also when the court finds the marriage ended -- meaning many courts find that the marriage ended with the date of the ACTUAL divorce trial. And not with the FILING of the divorce. Hence anything up until the date of the DIVORCE TRIAL is marital. Now there may be restraining orders in place prohibiting dissipation of assets and acquisitions of debts.

I understand the point that Misto made, but under your scenario someone could rack up a great deal of debt, (if there are no restraining orders) if they were of the mind to do so, that would be considered to be marital debt, and I have never known that to fly. Assets and debts cannot be treated in separate manners, so your scenario leaves a lot of room for inequity.