Daytrading & Divorce..... Separate Accounts....

[David Donner]

If a man keeps all his accounts separate from his wife from before he was married throughout his entire marriage, and NEVER deposited even one penny of money from the wife into his accounts, would the wife still be entitled to any part of the trading accounts in a divorce?

Thanks

 

[fyretrading]

someones in trouble

 

[ajacobson]

Go spend a few hundred $$ and buy a hour's time from a divorce attorney practicing in your state. Good luck.

 

[toc]

If a man keeps all his accounts separate from his wife from before he was married throughout his entire marriage, and NEVER deposited even one penny of money from the wife into his accounts, would the wife still be entitled to any part of the trading accounts in a divorce?

Thanks

While no specialist in law but it looks like man's trading account value will have to be shared/owned 50% in divorce to the wife. There have been cases where a spouse hid the funds in overseas accounts and when found later had to come back and pay the value at the date of the divorce.


Care for animals................https://animalaidunlimited.org/

 

[JSOP]

This is a duplicate thread. This question has already been answered on https://www.elitetrader.com/et/threads/daytrading-divorce.319588/page-2 by me and numerous other people. Please read the article via the following link:

https://www.forbes.com/forbes/welco...daytrading-divorce.319588/page-2#1fb5e2bd4053

This applies to trading accounts too. And most importantly go get a good lawyer that's knowledgeable and has experience in dealing with divorces of traders.

 

[manonfire]

If a man keeps all his accounts separate from his wife from before he was married throughout his entire marriage, and NEVER deposited even one penny of money from the wife into his accounts, would the wife still be entitled to any part of the trading accounts in a divorce?

Thanks

Sounds like you can’t afford a lawyer. I don’t think you have a lot to worry about.

 

[dextor]

It would still be considered as asset shared by both, most lawyers won't tell you that.
The system is such that it considers all of the assets both of you have and performs a "fair" split on separation - if you have kids, more would be taken out from your pocket. Be prepared for that. Try to be truthful on declaration of assets, else you will get into a shit load of problems as you contest.

not a lawyer btw.....

If a man keeps all his accounts separate from his wife from before he was married throughout his entire marriage, and NEVER deposited even one penny of money from the wife into his accounts, would the wife still be entitled to any part of the trading accounts in a divorce?

Thanks

 

[Robert Morse]

If a man keeps all his accounts separate from his wife from before he was married throughout his entire marriage, and NEVER deposited even one penny of money from the wife into his accounts, would the wife still be entitled to any part of the trading accounts in a divorce?

Thanks

My guess is that this will change from state to state.

 

[TreeFrogTrader]

My guess is that this will change from state to state.

There are about 10 states that are "community property." A person can use google as their friend to find out if they are in one. And if a person is, then they can be pretty sure- that in the absence of parties agreeing to some other arrangement, that all marital assets will be split 50-50. If they are not, then the court may still use that kind of split at the discretion of the court but not necessarily.

Note that the original poster did not give enough information to know whether his trading funds are a marital asset. Did he start with a 10,000 account which grew to 200,00 during their marriage. Or did he come into the marriage already as a trader with 200,000 which grew to 250,000 such that the marital asset is only 50,000?

Note further that almost every state requires/allows mediation where - ideally- the parties work out something between themselves which the court then usually approves. So the laws of the state really apply as a guideline for where you are going to end up if you can't agree. If for example, a trader has a big stash in trading funds accumulated in the marriage, they may want to split it 50/50 or they may agree to let the trader have it as business funds and settle on a percentage of profits for a decade or something or agree that he will keep the trading funds but a percentage will go towards college savings for the kids. Its up to them. The court is not likely to object if it is agreeable to the parties.

So there are all those factors in play and more.

As I recall, the OP was asserting that the wife may have never touched his trading business or put a penny in to it I guess for the purpose of saying it is more his than hers because he did all the trading work or something. Sorry but the whole legal basis for marriage takes that kind of thing out of the equation. Unless the funds existed prior to the marriage or were directly gifted to you or inherited directly to you alone, or a pre-nup is at play, she does not need to do anything to have a equal ownership. And yes it sucks if it is a "no fault" divorce state as most are now, and she ran off with her yoga instructor while you working.

Things like that come into play so that you can only talk about it in general terms. Also, if you go downhill, the lawyers will end out with more of your stash than the wife.

Love is free, but the long term interest can be brutal. As the saying goes: "put your wife and your dog in the trunk of your car and then come back two hours later to open the trunk. Which one is still happy to see you?"