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Question
Ben is a successful investment banker who earns $400,000 per year. Ben marries Elena, a nurse at a county hospital. At the time of their marriage, Ben owns real estate worth $1 million and securities worth $1.5 million, while Elena has no savings or property. After four years, Ben and Elena opt for a divorce. Over the four years of their marriage, Ben earns $400,000 in the first two years and $500,000 in the remaining two. Elena earns $25,000 in the first three years and $150,000 in the final year of their marriage. Their living expenses were $130,000 per year, and they have $1,450,000 of their earnings saved in a bank account. During the marriage, Ben's real estate increases in value to $1.5 million, and his securities increase in value to $3 million. If Ben and Elena file for divorce in a state that recognizes community property, what would be Ben's share of the real estate and securities holdings at the end of their marriage?A) real estate worth $1 million and securities worth $1.5 million
B) real estate worth $500,000 and securities worth $2.5 million
C) real estate worth $1.5 million and securities worth $3 million
D) real estate worth $2.5 million and securities worth $2 million
Answer
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