Legal Question in Family Law in Utah

Equity money-prior to divorce-what can I do with it?

Our file is in process-slow progress. (9 mo since filing) Spouse did agree to give me my share of home equity. I want to buy a car with it but my lawyer says no as it may be considered marital property. I can't put it in my 401K because then he can fight for it. What can I do with it? Safety deposit box? No purchases? He has no claim to it as long as it is cash? but if I buy a car with it he can try to say the car is marital property? So confusing. I really need a car. The divorce appears to be going to drag on forever


Asked on 7/09/07, 9:53 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Equity money-prior to divorce-what can I do with it?

Your share of the home equity is not marital property, nor is anything you buy with the home equity money. Buy your car. Your lawyer is not giving you correct information. You can also put the money in your 401(k) - as long as you document where the money came from and the date of its contribution to the 401(k).

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Answered on 7/10/07, 11:30 am


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