Is Cash Considered an Asset in Divorce?
Is money an asset in divorce? Is my wife entitled to half my savings? What happens to cash in bank accounts in divorce?
Is Cash Considered an Asset in Divorce? Yes. Marital property can include cash, checking, savings, insurance policies with a cash surrender value, retirement accounts, and investments including stocks, bonds, and mutual funds. Marital property (and community property) is divisible in divorce. Below, Mason comments on this important divorce topic:
Is Cash Considered an Asset in Divorce?
Memphis divorce lawyer, Miles Mason, Sr. JD, CPA presents continuing education to the Chattanooga Tax Practitioners. Mason is the author of the best-selling book, The Forensic Accounting Deskbook, published by the ABA Family Law Section. This updated edition of one the ABA’s most popular resources explains the practice of forensic accounting and business valuation and how to apply it in family law cases. It provides a practice-focused introduction to the core financial concepts in divorce, such as asset identification, classification, and valuation, income determination, expenses, and more.
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