Legal Question in Family Law in Connecticut

Cash and Stock Assets

I am getting divorced from my wife, TRYING to peacefully through mediation. We had both purchased a house in 1996, paid 119K, worth about 200K now, and we owe 140K on it (re-fied 2 loans into one a few years back). We both have the standard 401K plans, but no real savings - except - stock options that my father in law turned over to my soon to be Ex, worth about 80K. They are now in her name solely. She also just recently was awarded a 25K personal Injury lawsuit. She says that BOTH the stocks and the PI lawsuit money is HERS and I cannot touch it. We also declared chapter 13 Bankruptcy 2 years ago, and then had the case dismissed when I got laid off this last January. We technically owe 60K in un-secure debt. Our one car payment and mortgage is all up toi date. Two questions:

Am I entitled to ANY part of the liquid assets that she has in stocks and her personal injury lawsuit?

Do we both owe equally on whatever we have to end up paying on theunsecure debt?

Thank you so much,

Michael


Asked on 8/08/07, 11:46 am

1 Answer from Attorneys
John Heffernan Heffernan Legal Group, LLP

Re: Cash and Stock Assets

Normally, stuff gifted from parents remains with the child. The PI case is up for grabs. The debt, assuming it was for normal household expenses gets split 50-50, or at worst, proportionally to income.

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Answered on 8/08/07, 4:27 pm


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