California  |  Family Law

Legal Question

Asked on: 9/09/13, 12:00 pm

If I owned company stocks that I bought in 1985, I married in 2000, then sold the stocks in 2011, is my spouse entitled to any of that money from the sale of those stocks bought before the marriage?

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Answered on: 9/09/13, 12:35 pm by Timothy McCormick

As long as you did not co-mingle the proceeds with community funds/assets, they remain your separate property. As long as you maintain the separate property integrity of any premarital assets and money, it remains separate property indefinitely no matter how many times you change it's form from cash, to stocks, to cash, to real estate, back to cash, etc. (although real estate is tricky because it is usually hard to own it without eventually putting some current income into it - which mixes separate and community property). If you keep it separate, it is even separate property after you die, for probate purposes.


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Answered on: 9/09/13, 2:05 pm by BARRY BESSER

I agree with Mr. McCormick, however, between 2000 and 2011, if you added to those stocks in any way with community funds, your spouse may have an interest.

BARRY BESSER

www.besserlaw.com


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