Member help a member 
Knowledge CIrcle

FPA-LI's Member Help a Member Knowledge Circle gives our members and affiliates an opportunity for more in-depth examination of ideas, issues, trends, and regulations effecting our profession.  Our Member Help a Member Knowledge Circle will allow individuals an opportunity to acquire a deeper understanding and connection on areas of shared interest with other FPA-LI members through peer-to-peer learning.  The Member Help a Member Knowledge Circle is comprised of like-minded individuals seeking connection, knowledge, understanding and growth.

To particpate, by asking a specific question or providing information on a specific topic, please click on the subject matter below.

Information will be updated and posted here regularly.

Divorce

Question:  I have a client with an investment account of $1.4 million that is in husband's name alone.  He owned the account prior to the marriage of 15 years.  What, if any, portion of this account is considered a marital asset since the account was never held in joint name?
- Submitted by Nannette Watts, CPA

Answer: In order to determine what portion of the husbands account is individual property vs. marital property a full analysis of the account needs to be completed.  The amount of money that was in the account prior to the date of marriage must be determined.  If any money was added to the account during the marriage that amount would be deemed as marital.  In addition, the growth of the marital amount of money would also be considered part of the marital assets from the date of marriage to the cut-off date of divorce action.   - Answered by Donna LaScala, RFC, CDFA®