I've been struggling for some time to get proper disclosure in my divorce matter. It took me a long time but late last year, I was able to get a release from my ex which enabled my lawyer to deal directly with the U.S. investment company holding the largest portion of our marital assets and finally got all the documents released to me a few weeks ago. I've been in the process of reviewing them ever since. They were fascinating to say the least.
Two things:
1) My ex was an avid (and very unqualified) day-trader who managed to lose over 50% of the purchased value of the stock when the overall S&P went up over 25% over the course of the statements that I have (they only go back 10 years). This equates to a large sum of money in losses...somewhere in the vicinity of 200k.
2) There are a large number of check dispursements over the same 10 year period out of another account that he didn't have to declare capital gains on so I was unaware of...over 100k in the same 10 year period. I only really care about the last 2 years because he's supposed to disclosure any such large sums of money withdrawn on his financial statement but the overall amount was surprising because its not money that came back into our household...I'm not sure why he needed it or where it went.
Not that this is something that I'm personally interested in pursuing this litigation-wise but I'm very curious about the opinions of the knowledgeable posters. So my question is...
Do you think that stock market day-trading would/should qualify as "gambling" in a way that is considered reckless squandering of marital assets and may qualify one spouse for unequal division of property?
Two things:
1) My ex was an avid (and very unqualified) day-trader who managed to lose over 50% of the purchased value of the stock when the overall S&P went up over 25% over the course of the statements that I have (they only go back 10 years). This equates to a large sum of money in losses...somewhere in the vicinity of 200k.
2) There are a large number of check dispursements over the same 10 year period out of another account that he didn't have to declare capital gains on so I was unaware of...over 100k in the same 10 year period. I only really care about the last 2 years because he's supposed to disclosure any such large sums of money withdrawn on his financial statement but the overall amount was surprising because its not money that came back into our household...I'm not sure why he needed it or where it went.
Not that this is something that I'm personally interested in pursuing this litigation-wise but I'm very curious about the opinions of the knowledgeable posters. So my question is...
Do you think that stock market day-trading would/should qualify as "gambling" in a way that is considered reckless squandering of marital assets and may qualify one spouse for unequal division of property?
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