Dividing assets in only 1 name

A few years back my husband made his own bank account. We used the one my paycheck went into for all our bills and living expenses. It worked to help us save money. Fast forward 15 years and we are getting a divorce and that account has been made into 2 because of insurance laws or something - the financial advisor told my husband to do that. I don’t have access to the accounts and my name is not on the account except for receiving the money if he dies. (that’s what he tells me). It should have about $500,000 in the 2 accounts. Will they be considered community property even with my name not on them but being married the entire time. We’ve been married over 20 years. Also will there be consideration for adultery in dividing assets?

Based on the information you’ve provided, the account you’re referencing would be marital property subject to being divided in equitable distribution. This means you would be entitled to one-half of account assuming the account was funded during the marriage with marital funds. It does not matter who the account is titled to.

Adultery is not considered when dividing marital property unless one spouse used assets from the marital estate to perpetuate the affair.


Anna Ayscue

Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest

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