ourhearts
New
Reged: 07/11/08
Posts: 18
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If we put our salaires in our personal accounts, not in a joint account due to conflict of my money your money, and we are married, according to CA law, is our earning during our marriage still considered community property? In case of divorce, will all the earnings acountable before the division, no matter where is the money? How will the saving be defined, what if he moves money around? We both work for the companies, it is easy to get record of earnings from them. Can we take formula saying when we both put salary in one account this was the saving over the period of two years?
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KGrow
Platinum
Reged: 01/27/06
Posts: 3153
Loc: Colorado
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California is a community property state so the separate accounts will not be recognized. Anything (excepting inheritance) that came in during the marriage will be considered a marital asset subject to 50-50 split.
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ourhearts
New
Reged: 07/11/08
Posts: 18
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Thanks, does anybody has any idea, how is it determined how much is community propertty? See we both have very different spending habits, my husband has very expensive tasts,I beleive in fairness.
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Jada
Platinum
Reged: 06/02/07
Posts: 3491
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[quote]Thanks, does anybody has any idea, how is it determined how much is community propertty? See we both have very different spending habits, my husband has very expensive tasts,I beleive in fairness. [/quote]
50% of the assets will go to him and 50% of the assets will go to you.
50% of the debt will go to him and 50% of the debt will go to you.
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KGrow
Platinum
Reged: 01/27/06
Posts: 3153
Loc: Colorado
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Community property will be everything acquired during the marriage regardless of who earned it or who paid for it. Property either of you owned before marrying can be considered personal, not community property.
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Samsung
Platinum
Reged: 06/14/07
Posts: 2221
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If I understand you correctly, his account is low and your high. Hopefully, he has something to show for what is spend, as it is will most likely be marital property. You, on the other hand, will lose half of what you have saved. Is this what you were asking?
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ourhearts
New
Reged: 07/11/08
Posts: 18
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Since he refused to pay for my chidlren education from our joint account, forced me to separate our accounts, so I can pay for the needs of minors. I am very saving kind of person without going for shopping spree ever, I spend only needed stuff, so my question is can he hide money, since I don't. He knows exactly where do I have separate account, but I have no clue about his, he kept them as a big secret, is very secrative normally. How would you figure out during a divorce that what is community property, will it be based on our earning from work??? And based on our recently saving can be used as formula to determine the proportionate saving. I am not sure I made it any clear here.
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Samsung
Platinum
Reged: 06/14/07
Posts: 2221
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It won't be based on your earnings. It will on what assets/cash you have on hand. It most often won't be divided propertionately, but evenly. So if he saved $0 during the marriage, and you saved $50,000, you would each get $25,000. The law for this originates from parents that don't work outside the home. If you separated the assets/cash proportionately, then the stay at home person would get $0.
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ourhearts
New
Reged: 07/11/08
Posts: 18
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This really hurts, so when I am trying to save for children's education, when I have none hidden anywhere, where he has millions hidden away, which he calls his stocks and other stuff he has accumulated before the marriage, so it is separate property, but if he spends or hides his current property where I am saving mine in a very visible place, I will have to share with him, this seems just wrong, but then this whole thing is not right to start with anyway, wrong things will have wrong results. Just feeling hurt, that is all.
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gigi
Platinum
Reged: 11/06/06
Posts: 5168
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When you married him, you did not get access to his millions accumulated from before the marriage. All you get is what he earns and saves and spends during the marriage, and if he CHOOSES to cash in some of his pre-marriage property to buy stuff for the family, then you get to share in that. Otherwise, if you are suffering and not saving and you think HE is not saving his money but is spending it on stupid stuff that you don't benefit from, the solution is to either accept that or leave him. He is not a generous person with his money and you will not gte part of what he had before the marriage. If his money made it possible for you to live in a larger home with him during the marriage, or took vacations, then great. But if you've been paying all the expenses of life and he's been having fun with his money, gambling it away or spending it on other women... whatever it was that he spent it on, then you can't really make him give you anything.
IF, however, he has been spending his earnings on boats and condos nad time shares and jewelry, well... you get half of that. He gets half of your savings, and the two of you will have to find a way to jointly get your kids through school at the schools they're used to going through... which may mean he pays a lot of child support that's the situation.
KNowing ONLY that you paid the kids' tuition from your earnings, and NOT how anything else of your lifestyle was earned or supported, or what his earnings are or what your lifestyle is, we can't possibly tell you whether there's something you can get.
WE can only tell you that you can NOT get his stuff from before the marriage.
How long have you been married to him? What do you earn and what does he earn? You may be entitled to alimony as well as child support.
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