Marital property


#1

My husband has quite a large investment portfolio which he had before we married 9 years ago. We purchased rental property which I managed for 8 years. About 2 years after the purchase he deeded the property to me as I was doing all the work and he didn’t want to be bothered with it. The property has not produced any profit, barely breaks even and since we file joint tax returns it provides a nice tax shelter for him. Since he deeded the property to me, when it was jointly owned when we purchased it, is it a gift to me or marital property? Is it business property? I am a totally dependent spouse and he is the providing spouse. He gives me no money except for household food, meds. etc. We own our home and he is talking to a divorce attorney. Other than the fact that I need an attorney, can you tell me what I need to be doing right now to protect my interests?


#2

The home is marital property unless there was a clear intention that he gifted the property to you and intended it to become yours separately.
You need to go speak to an attorney and create a plan of action to ensure you will receive adequate support.