Legal Question in Family Law in Iowa

I might be getting a divorce in Iowa. My wife has has received $ from sale of her families(fathers) bank as inheritance. She previously had stock in the bank so the sale created the $. We took the money and invested it. Both of our names are on all of the stocks as (joint). If we get divorced, is the $ community or separate property?


Asked on 4/09/10, 6:17 am

1 Answer from Attorneys
Robert Luedeman solo practitioner

Iowa is not a community property state, it is an 'equitable distribution' state. The court decides who gets what. The test is whether the asset has been so merged as to be indistinguishable. If you are listed as joint owners and this has been going on for a while, you've received dividends or bought and sold on the account as joint proprietors it is likely to be treated as part of the marital estate.

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Answered on 4/15/10, 5:48 am


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