What is my pre marriage asset? Should it be deducted part of money used as down payment for matrimonial home?
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pre-marriage money purchasing matrimonial home after marriage
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What is my pre marriage asset? Should it be deducted part of money used as down payment for matrimonial home?
If you had $50k in the bank on your marriage date, that is your asset. What happened to it later does not matter.
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Originally posted by dadonown View PostUnless you put it into the matrimonial home, no? ...as joint tenants.
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Unless you put it into the matrimonial home, no? ...as joint tenants.
Equalization is calculated as your net worth on the separation date minus your net worth on the marriage date, subject to a few rules (the two most prevalent: if you owned the matrimonial home on the marriage date then the marriage date value is not deducted, gifts and inheritances can be excluded).
If you had $100k in investments on the marriage date it does not matter what you do with it or what form it takes on the separation date. The fact that it later went into the matrimonial home is irrelevant. You had $100k in assets on the marriage date.
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Thanks.
One more question, if $50k of pre-marriage money in bank are the gift from my parents for buying the matrimonial home (2 month later). Is this $50k also considered my own or my spouse could share half of it?
Originally posted by OrleansLawyer View PostIt does not matter what form your assets or debts take, only the numbers.
Equalization is calculated as your net worth on the separation date minus your net worth on the marriage date, subject to a few rules (the two most prevalent: if you owned the matrimonial home on the marriage date then the marriage date value is not deducted, gifts and inheritances can be excluded).
If you had $100k in investments on the marriage date it does not matter what you do with it or what form it takes on the separation date. The fact that it later went into the matrimonial home is irrelevant. You had $100k in assets on the marriage date.
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if $50k of pre-marriage money in bank are
the gift from my parents for buying the matrimonial home (2 month later).
Whatever happened to the money after marriage is irrelevant. You could have transferred half, or all, the money to your spouse, or put it into a house, or a business, or bought back your 10 kilo of cocaine. None of that matters. The only dates that count are the separation date and the marriage date.
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I am not sure, but I would wonder if the gift was for the purchase of home, and yoiu were purchasing this home because you just got married, maybe its considered a gift to both of you, since you said the purpose of the gift was to purchase the matrimonial home.
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