Legal Question in Family Law in West Virginia
divorce assets
our mm accounts had x in them when we split. The accounts are in my name. If the account loses money through no action by either of us, am I still responsible for giving half of x in the divorce settlement?
1 Answer from Attorneys
Re: divorce assets
If the court orders you to give half, it can also order you to give half as of a *certain date*.
You're going to have to agree to a valuation and that valuation will be based on a date. Your best bet is to decide that earlier rather than later, so no one takes a hit for the decision of the other.
You can do this prior to a divorce settlement AND you can agree that you're going to get that value on your side of the equation, no matter what, which will free you to use it as you will.
This can all be done before the final order, but consult with your attorney, because you'll want the agreement documented in a letter between counsel, if not in an actual pre-judgment order. You may have to give something to get something, but then, you'd have to do that anyway or risk living with whatever the judge orders.
You can take this sort of thing to mediation. Highly recommended, unless there is serious domestic violence that would prevent you from being able to negotiate. Your counsel can also work with you both to get this thing sorted out without a lot of financial drama.
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