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Category: Family Law
Satisfied Customers: 29131
Experience:  29 years as a family law lawyer .
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Ive been married for twenty years.Supporting a wife whom had become one hundred (100

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I've been married for twenty years.Supporting a wife whom had become one hundred (100) percent disable for the past eighteen (18) years. I have been the only financial earner in this marriage. We have always had joint bank accounts.
Recently, her mother has past away.My wife has received a large inheritance and placed in her own private account.I suddenly have concerns for divorce.What are my options concerning this new found wealth please ?
Submitted: 2 years ago.
Category: Family Law
Expert:  RayAnswers replied 2 years ago.

RayAnswers :

Thanks for your question and good afternoon.

RayAnswers :

This is considered non marital property.Inherited funds are an exception to the marital property rules.Unless it gets commingled here to the point that it cannot be separated say you spend it on the house or commingle it into a checking account.here the court would award it to her.

RayAnswers :

In South Carolina, assets and debts acquired during your marriage called "marital property" are divided "equitably" when you divorce. Marital property is all jointly owned property and all other property, except "separate property," acquired by either spouse during marriage and up to the time of a separation.


Not all property is considered marital property, some property is considered "separate property," which is property owned by a spouse at the time of marriage, or is received by inheritance property or gifts. Increases in value of separate property is included. Each spouse is entitled to keep his or her separate property.


In deciding how to divide the marital property, judges will consider various factors, including:



- Marriage duration and the spouses' ages when marriage and at divorce
- Marital misconduct
- Marital property value
- Income and earning potential of each spouse
- Physical and emotional health of each spouse
- Needs of each spouse for additional training of education to achieve that spouse's income potential
- Nonmarital property of each spouse
- Vested retirement benefits
- Alimony awards
- Desirability of awarding family home to spouse having custody of the couple's children
- Tax consequences of the property division
- Existing support obligations from a prior marriage
- Liens or other encumbrances upon marital property
- Child custody



An equitable distribution may not be an equal division. The assignment of fault can be a factor in property divisions in South Carolina. Pensions and retirement plans are subject to equitable distribution if they were accumulated during the course of the marriage by the spouses.

Customer:

After twenty years of joint funds......in today's society, her sudden action to open a private / personal accounts cannot help but cause alarm. I was afraid that would be the verdict. Thank you for your assistance

RayAnswers :

All you can do here is start making her pay her share of expenses.If I were you I would try to become liquid and take your assets off grid here.Cash in untraceable.

RayAnswers :

You're welcome and good luck..

RayAnswers :

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Please be aware that my answer is not legal advice, it is merely information and no attorney client relationship has been formed. You should always contact a local attorney for legal advice.


 

RayAnswers, Lawyer
Category: Family Law
Satisfied Customers: 29131
Experience: 29 years as a family law lawyer .
RayAnswers and 7 other Family Law Specialists are ready to help you
Expert:  RayAnswers replied 2 years ago.
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Expert:  RayAnswers replied 2 years ago.
Thanks again for letting me help and provide you the information you asked for.

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