If an expense declaration form asks to list all assets that one “could sell easily”, will I have to sell my stocks?
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If an expense declaration form asks to list all assets that one “could sell easily”, will I have to sell my stocks?
I have stocks that I have owned for years. So does that mean I will have to sell my stocks? The stocks that I own do not pay a dividend nor do I get income from them, it’s like a savings for retirement. Also, if I have to sell my stocks, would selling assets like stocks apply to both parties the mom too?
Asked on September 23, 2012 under Family Law, California
Answers:
Cameron Norris, Esq. / Law Office of Gary W. Norris
Answered 11 years ago | Contributor
It sounds like you are completing an income and expense declaration in connection with a divorce. Just because you list the stock doesn't at all mean you will have to sell it. If you own assets, you have to list them on the declaration. Period. This just helps the court evaluate economic disparities between the parties and allows the parties to equitably distribute community property. If the stock is your separate property from before marriage (if that's what is going on here) then make sure to fill out an FL-160 and declare such property to be your separate property.
Best of luck.
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