Re: Wife wants half of my cryptos and wants me to sell half of all our holdings now.
Hi.
So my wife wants me to sell half of my cryptos like right now. We invested early last year. She claims its half hers b/c I live in California and its half hers as community property. She didn't put any money into it it was my hard earn money that I had to risk.
So my wife wants me to sell half of my cryptos like right now. We invested early last year. She claims its half hers b/c I live in California and its half hers as community property. She didn't put any money into it it was my hard earn money that I had to risk.
I am a little confused.
If I understood correctly you are NOT in the middle of a nasty divorce, which is THE moment when your investments would probably have to be divided 50/50 with your wife.
Doesn't quite add up. IF you give her 50% now and she spends her share, and THEN you divorce and you have to split everything AGAIN 50/50. Not fair, and I do not think it works like that.
Another scenario: You give her half now, and she spends her share, and then she asks for 50% again, because it is her "right". What then? do you have to give her 50% of your remaining investments, which she spends AGAIN. And the same can repeat forever, until neither of you have any money left
That is not how marriage and community property laws work. (I am no expert in how things work in California but we have a similar law.)
You own your own money, even if you are married. Hell. if you want, you could rent a jumbo jet and fly to a holiday, and thus spend all your money, and she could not do anything about it. Or, yes, she could divorce you and split her savings with you, because you would not have anything left at that point...
Having said that. She could be right. If you have multiplied your investment, maybe it is a good idea to take some money back. Maybe sell enough to cover your initial investment. Then there is no risk of losing your initial investment, and it would be much easier to follow the swings of the market.