CC loan account in case of a divorce ??

[Grunt]

My wife is the sole member in a cc. I gave her x amount to pay for the original amount to pay for the business. I also gave her money to renovate the place and she also drew a large amount from our joint account which I suspect partly paid for some later additions and equipment for the business.

Would these contributions go to a loan account?

We are married in community of property.

Do I have a claim against the loan account if we get divorced?

Some items from our home (pictures and mirrors etc) were taken to the premises to be used as decor. Do I have right to these things also?

[Dave A]

How are you married - community of property, anti-nuptual contract or accrual?

[Grunt]

Community of property

[Dave A]

Then there is no "yours and mine" - it's all "ours" (including her interest in the business).

[Grunt]

Then there is no "yours and mine" - it's all "ours" (including her interest in the business).

Ok ... that sounds simple enough.

I thought that it being a cc and all that this might protect her. Then I thought that any loans made to the cc would fall into the 'ours' category. What you say seems to confirm this?

[Dave A]

Then I thought that any loans made to the cc would fall into the 'ours' category. What you say seems to confirm this?

I'm not sure you can just isolate the member's loan account when looking at this. You might need to take a more holisitic view of the value of the member's interest in the cc, the loan being but one component.

The key to getting some sort of a picture in your mind is everything is in the pot when it comes to community of property (with some rare exceptions, generally related to inheritances). With a divorce, obviously there needs to be a settlement as to who gets what in the division of this pot, and this can involve a fair amount of horse trading.

Obviously if emotions are flying high, this might not be easy. All I can do is urge both of you to try to step outside of those emotional forces for this part and try to be fair, otherwise it'll be the lawyers who'll be the big winners