Leasing a Vehicle

[mistoffolees]

For a 2 year marriage, you won't be entitled for anything for the value of her car.

Not necessarily true. If marital funds were used to pay off a loan on the car, OP could be entitled to 1/2 of the marital equity.

 

[LdiJ]

Not necessarily true. If marital funds were used to pay off a loan on the car, OP could be entitled to 1/2 of the marital equity.

Yeah, but the marital equity isn't likely to be much.

 

[mistoffolees]

Yeah, but the marital equity isn't likely to be much.

Probably not, but that's not the same as saying that it's zero.

 

[ecmst12]

She only paid for part of the loan during the marriage, probably 1 year or less. The car is now worth less than it was at the time of the marriage (might be only a small amount less, but definitely less either way). So what equity could be counted as marital? Half of what she paid during the marriage, less depreciation? Even if that's NOT $0 or negative, it would surely be offset by everything else and is surely not even worth bringing it up in the divorce.

This is of course assuming it is a normal car and not something bizarre/valuable like a classic or collectible or anything.

 

[mistoffolees]

She only paid for part of the loan during the marriage, probably 1 year or less. The car is now worth less than it was at the time of the marriage (might be only a small amount less, but definitely less either way). So what equity could be counted as marital? Half of what she paid during the marriage, less depreciation? Even if that's NOT $0 or negative, it would surely be offset by everything else and is surely not even worth bringing it up in the divorce.

This is of course assuming it is a normal car and not something bizarre/valuable like a classic or collectible or anything.

They were married for 2 years. That means that there could be up to 2 years of payments using marital funds.

The way it would work is just like a home - you calculate the equity at the time of marriage and the equity at the time of divorce and they are each entitled to 1/2 of any increase in equity.

I am not going to guess what that number might be - there are just too many variables. But it is important to get the facts right - OP would be entitled to 1/2 of any marital equity. That number could be insignificant (or even zero) or it could be large, but the fact that he's entitled to 1/2 doesn't change.

 

[Ohiogal]

If it was earned during the marriage AND before filing for divorce.

Actually, no. Even money earned AFTER filing for divorce but before the divorce is granted CAN BE CONSIDERED MARITAL FUNDS/ASSETS.
If he filed for divorce yesterday and played tonight's megamillions and won -- that would be a marital asset.

 

[OHRoadwarrior]

Actually, no. Even money earned AFTER filing for divorce but before the divorce is granted CAN BE CONSIDERED MARITAL FUNDS/ASSETS.
If he filed for divorce yesterday and played tonight's megamillions and won -- that would be a marital asset.

That was bought on behalf of the "I Hate My Wife Trust" and is an asset of the trust. Usage to be directed by hubby, the trustee.

 

[Bali Hai]

Actually, no. Even money earned AFTER filing for divorce but before the divorce is granted CAN BE CONSIDERED MARITAL FUNDS/ASSETS.
If he filed for divorce yesterday and played tonight's megamillions and won -- that would be a marital asset.

In that case burning the winning ticket could be an option.

Yes, we can't forget the discretionary power of the almighty judge.