Can ex wife go after estate

[HorizonGLH86]

I have a legal question that I was unable to get answered using other resources on the site. My father in-law got divorced three years ago in Florida. They divorced with the help of a mediator. The divorce agreement read that after the sale of their home she would get half the proceeds or $150,000 minimum. Since then my father in-law was diagnosed with a terminal illness and they only give him several weeks. He was severely upside down on the house so he stopped paying the mortgage 2 months ago and moved in with us. His only other asset was his company that he has given to my wife and brother in law. It is a chapter S corporation so he signed his shares over to them. My wife and brother in law now run the company and pull a salary. My question is, can his ex-wife go after the company? The company has no physical assets but it does have an income stream. Thanks for taking the time to read this.

 

[Ohiogal]

His ex can sue the estate. And depending on when the shares were transferred it is possible she could make a claim to it.

 

[Bali Hai]

His ex can sue the estate. And depending on when the shares were transferred it is possible she could make a claim to it.

The judge could also find contempt of court and throw the father in law in jail if his ex loses the GUARANTEED 150k.

 

[HorizonGLH86]

Please keep in mind my father in law is very ill and probably won't live more then a few weeks. He also does not have $150,000, he has no assets.
thanks for all of the responses.

 

[Zigner]

The judge could also find contempt of court and throw the father in law in jail if his ex loses the GUARANTEED 150k.

Oh Puhlease! The man is terminal and only has a few weeks to live.

 

[Bali Hai]

Oh Puhlease! The man is terminal and only has a few weeks to live.

There is a man that's been in jail on a judges whim for the last 13 years with a terminal illness.

The law is the law!!

Well they just let him out a short time ago, just in time to die!!

http://parentalalienationcanada.blogspot.com/2009/07/after-14-years-in-jail-over-alimony.html

 

[Zigner]

There is a man that's been in jail on a judges whim for the last 13 years with a terminal illness.

The law is the law!!

By definition, 13 years is not "terminal".

In THIS case (you know, the one the OP came here asking about), the man is expected to live a few weeks. As such, this will never make it to court on the contempt issue.

 

[mistoffolees]

By definition, 13 years is not "terminal".

Technically, the length of time doesn't determine whether something is terminal. We all have terminal conditions - we're going to die some time.

But, of course, you're right that there's a big difference between someone who has just weeks to live and someone who is still around after 13 years.

 

[Bali Hai]

By definition, 13 years is not "terminal".

In THIS case (you know, the one the OP came here asking about), the man is expected to live a few weeks. As such, this will never make it to court on the contempt issue.

Well let's hope that's not the case.

 

[HorizonGLH86]

My main concern is the ex wife coming after my familly. It sounds like she could in fact go after the company (my father in laws only asset that he gave us). I should mention that the company is a property management company. The company only owns a pickup truck, no buildings or other assets.

 

[Zigner]

Since we're talking about a nebulous definition, I think a Wikipedia reference will suffice: http://en.wikipedia.org/wiki/Terminal_illness

 

[Bali Hai]

My main concern is the ex wife coming after my familly. It sounds like she could in fact go after the company (my father in laws only asset that he gave us). I should mention that the company is a property management company. The company only owns a pickup truck, no buildings or other assets.

Plan on losing that pickup truck and paying the gas bill for ten years.

 

[mistoffolees]

My main concern is the ex wife coming after my familly. It sounds like she could in fact go after the company (my father in laws only asset that he gave us). I should mention that the company is a property management company. The company only owns a pickup truck, no buildings or other assets.

Does FIL have life insurance? If so, that can be used to satisfy the judgment rather than the business assets.

 

[Bali Hai]

Does FIL have life insurance? If so, that can be used to satisfy the judgment rather than the business assets.

Not if the insurance company determines that the FIL contributed to his own death in some minor way.

 

[HorizonGLH86]

He does have some life insurance that would cover about half of the $150K. The policy has his kids as the beneficiary.