Is My Stimulus Check Considered A Marital Asset?

Is My Stimulus Check Considered A Marital Asset?

Dear Attorneys,

I received a check from IRS under the CARES Act, but I am going through a divorce. Is this a marital asset that needs to be divided? I would really like to keep this to myself if possible, and maybe pay off some of my debt.

Very Truly Yours,

Hanging On To Funds

 

Dear Hanging On,

We see where you’re coming from, and there are a few different answers to your question depending on your circumstances. For instance, if you and your spouse are living separately during your divorce, and you received your spouse’s share, you should probably give it to them (unless, for any reason, they are behind, or withholding support payments for any reason).

If you are living together, in theory, it is divided, but you are probably paying for expenses jointly, so it may be less of an issue. However, if a divorce matter is pending and you and your spouse do not agree on how the stimulus check should be spent, or divided, then you should ask if your attorney can hold the funds in escrow until an agreement is reached.

Looking to make your divorce easier, not harder?  More civilized and less stressful? Choose Wolf & Shore Law Group. Attorneys Kristen Wolf and Shari Shore are both tenacious enough to protect your best interest and compassionate enough to help get you through a difficult dissolution. Ever argue with a woman? Let Wolf & Shore Law Group go to work for you. Call us at 203.745.3151 or email us at info@wolfandshorelaw.com.

Very Truly Yours,

Wolf & Shore Law Group

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