sher871 Posted November 23, 2011 Posted November 23, 2011 Am I entitled to this "non marital asset"? I live in Illinois. My husband has a stock fund in his name worth $150,000. He originally received $25,000 from his first wives life insurance policy (she died) in 1993 which he put in a stock fund which grew to $150,000. He tells me that since this is a non-marital asset, I am not entitled to any of that money. I don't want to be morbid so part of me says for him to keep 100% of it. However, other people tell me that I raised his 3 young children from his first marriage, and he wouldn't be where he was today if it weren't for me, so I should get some of the money. Not sure if one has to do with another. Thanks for any input.
Lucid1 Posted November 24, 2011 Posted November 24, 2011 Sher871, Don't think about what is right or owed, just go see a lawyer and let them tell you your legal rights. In the end that's all that will matter. If you have a right to the money, take it. If not, forget it. And good luck!
carhill Posted November 24, 2011 Posted November 24, 2011 Your lawyer will be your best source of legal advice. If the monies were not co-mingled and you live in a community property state, it is unlikely you have any legal right to the money. An example of co-mingling would be you/he making a stock purchase in the fund with qualified marital funds. In California, such property is called 'separate property'. For example, during our divorce, due to a separate legal process, I had to update my separate property list to include real estate I had transferred from my parents trust to myself. It was considered to be separate property under the law and not listed for consideration during MSA negotiations but the court and my exW had to be apprised of the change in my financials. Good luck.
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