While the Meme Stock Craze may be over, there are many Californians who still own the two most popular Meme Stocks: GameStop and AMC. Indeed, there are ardent believers in the original thesis and are patiently waiting for their MOASS. But, if a divorce occurs before it, will they lose these prized possessions? Though, anyone that has prized possessions will likely have the same question.
Community property
In our state, all assets, including stocks, acquired during your marriage are community property, unless there is some exception. This means that both you and your soon-to-be ex-spouse own your GameStop and AMC shares, if they were acquired during your marriage. This means that these stocks are subject to a 50/50 split during the property division process of your divorce.
Exceptions to community property
There are exceptions to the community property rule. If you inherited or received your shares as a gift, they could qualify as separate property. This means that you solely own those stocks. If you bought prior to your marriage, or after a separation, these are likely separate property as well.
Settlement agreements
Property that has more value to one person than the other, like potentially, GameStop and AMC stock, could help the couple come to a settlement agreement for property. If you do not want to sell your shares, you could leverage that to offer something of arguably more “fair market value” to your soon-to-be ex-spouse to avoid selling your shares. This is something that can be done with any community property that has sentimental value.