Greg is talking to experienced divorce lawyer, Jeb, about property distribution in a divorce.
“We have separate bank accounts and that $60,000 is in my name alone,” Greg says.
“Doesn’t matter,” Jeb advised, “it’s still marital property.”
“What if I should spend the $60,000 before the divorce?”
“It depends on how you spend it. If you buy a car or a Rolex, those items become marital property. If you buy consumables, then the money is gone and the court can’t divide it.”
“What if I give it to my brother as a gift?”
“That won’t work,” Jeb told him. “The court can undo that gift.”
(to be continued)