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  1. #1
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    Feb 2017
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    Default What is the Statute of Limitations on Division of Property After Divorce

    My question involves a marriage in the state of: CA

    I filed for divorce in November 2012 and it was finalized in October 2013. As part of the final decree, my spouse was entitled to half of the stock that we had purchased during the marriage.

    Since that time, he has done nothing to set up his own account, it is all still all in my name.

    Are there any statutes of limitation on how long he has to set up his own account and transfer out his # of shares, would it ever revert fully back to me? I'm assuming no, but was always curious.

    Thank you!

  2. #2
    Join Date
    Nov 2013
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    Default Re: Statute of Limitation on Division of Property

    If the stocks are all in your name, he can't order a transfer to an account in his name. You have to do it. He does have to set up his own account though (preferable with the broker or institution).

    After 3 years he is also entitled to half of all the dividends, interest, and capital gains that were paid. If the money was reinvested in more shares, then he just gets half on the day of the transfer.

    You may have to do this in writing with a letter of intent and include your divorce judgment. That depends on the broker or institution.

  3. #3
    Join Date
    Jun 2010
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    671

    Default Re: Statute of Limitation on Division of Property

    Quote Quoting saholmes
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    My question involves a marriage in the state of: CA

    I filed for divorce in November 2012 and it was finalized in October 2013. As part of the final decree, my spouse was entitled to half of the stock that we had purchased during the marriage.

    Since that time, he has done nothing to set up his own account, it is all still all in my name.

    Are there any statutes of limitation on how long he has to set up his own account and transfer out his # of shares, would it ever revert fully back to me? I'm assuming no, but was always curious.

    Thank you!
    You are still obligated by the order.

  4. #4
    Join Date
    Oct 2006
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    16,474

    Default Re: Statute of Limitation on Division of Property

    Quote Quoting budwad
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    If the stocks are all in your name, he can't order a transfer to an account in his name. You have to do it. He does have to set up his own account though (preferable with the broker or institution).

    After 3 years he is also entitled to half of all the dividends, interest, and capital gains that were paid. If the money was reinvested in more shares, then he just gets half on the day of the transfer.

    You may have to do this in writing with a letter of intent and include your divorce judgment. That depends on the broker or institution.
    That may not be accurate Bud. It may be able to be divided via a QDRO, although those are mainly used for retirement accounts. If that is the case, then it would be his obligation to draw up the QDRO and present it to the brokerage.

  5. #5
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    Nov 2013
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    Default Re: Statute of Limitation on Division of Property

    Nothing in the post suggests that this is a retirement or pension account. And even if it was and the securities or funds where held in OP's name, it would still be her obligation to get the transfers done.

  6. #6
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    Oct 2006
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    Default Re: Statute of Limitation on Division of Property

    Quote Quoting budwad
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    Nothing in the post suggests that this is a retirement or pension account. And even if it was and the securities or funds where held in OP's name, it would still be her obligation to get the transfers done.
    I am sorry Bud but that is wrong. QDROs are drawn up and submitted by the receiving party. I also said that QDROs were mainly used for retirement accounts, not ONLY used for retirement accounts. That is how its ensured that the receiver is the one who pays the taxes on any income that results from the transfer.

  7. #7
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    Nov 2013
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    Default Re: Statute of Limitation on Division of Property

    Frankly LL, that is just BS.

    There is nothing to suggest that we are speaking of retirement accounts. And when the account is held in the name of one spouse the other can't get a transfer without the account holder making the transfer. QDRO or not.

  8. #8
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    Default Re: Statute of Limitation on Division of Property

    Quote Quoting budwad
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    Frankly LL, that is just BS.

    There is nothing to suggest that we are speaking of retirement accounts. And when the account is held in the name of one spouse the other can't get a transfer without the account holder making the transfer. QDRO or not.
    Well, then all I can do at this point is to tell the OP to consult with a local attorney on the matter. The OP definitely should not take your advice without the blessing of a local attorney AND a consult with his broker. Otherwise he potentially risks being on the hook for taxes that should not be his responsibility.

  9. #9
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    Nov 2013
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    Default Re: Statute of Limitation on Division of Property

    Well if this is not a retirement account (and I assume it is not), then each spouse will be responsible for their share of the taxes once the account is divided and they sell their shares. Right now, OP has been paying taxes on the account. The history of the investment and reinvestment will transfer with the shares.

    But it is still up to the account owner to make the transfer.

  10. #10
    Join Date
    Oct 2006
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    Default Re: Statute of Limitation on Division of Property

    Quote Quoting budwad
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    Well if this is not a retirement account (and I assume it is not), then each spouse will be responsible for their share of the taxes once the account is divided and they sell their shares. Right now, OP has been paying taxes on the account. The history of the investment and reinvestment will transfer with the shares.

    But it is still up to the account owner to make the transfer.
    Once again OP, consult a local attorney.

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