community property, LLC

[Sw3tflower]

Calif
I just got my fee waiver approved and I am filing for divorce tomorrow. I am worried. My husband has been abusive and is fiinancially controlling to the extreme. Please tell me if there is a pattern to what I am seeing, and if so, what I need to do.Should I continue filing for the divorce or stop filing until I can find out where I stand financially? I do not work and am 55 years old.
He has not paid any money on our personal or his business credit cards for several months (at least 6 of them that I know of).
He has not paid the mortgage, PGE or water bills for 2 months.
He has not bought food for the home in several months (my family has been helping me).
He used the LLC credit card to buy cleaning supplies for our home last week.
He used LLC money to pay the LLC mortgage last month, not his business or personal money.
My health insurance has been cancelled for nonpayment.
He still works and, I assume, has a salary but he is self employed so I can't be sure.
I see all personal/community debts not being paid, and wonder where all the personal salary is going.
Also, I wonder if the LLC partner is aware he is buying cleaning products for us with the LLC money.
He is leaving to visit family in another state in October...his brother is an attorney.
Should I tell the LLC partnet what is happening or the LLC attorney?

 

[LdiJ]

Calif
I just got my fee waiver approved and I am filing for divorce tomorrow. I am worried. My husband has been abusive and is fiinancially controlling to the extreme. Please tell me if there is a pattern to what I am seeing, and if so, what I need to do.Should I continue filing for the divorce or stop filing until I can find out where I stand financially? I do not work and am 55 years old.
He has not paid any money on our personal or his business credit cards for several months (at least 6 of them that I know of).
He has not paid the mortgage, PGE or water bills for 2 months.
He has not bought food for the home in several months (my family has been helping me).
He used the LLC credit card to buy cleaning supplies for our home last week.
He used LLC money to pay the LLC mortgage last month, not his business or personal money.
My health insurance has been cancelled for nonpayment.
He still works and, I assume, has a salary but he is self employed so I can't be sure.
I see all personal/community debts not being paid, and wonder where all the personal salary is going.
Also, I wonder if the LLC partner is aware he is buying cleaning products for us with the LLC money.
He is leaving to visit family in another state in October...his brother is an attorney.
Should I tell the LLC partnet what is happening or the LLC attorney?

I see one of two things happening here. Either his business is going very very poorly right now, and he has no money to pay the bills, or he is stockpiling and hiding money from you.

I think that you probably need to move forward with the divorce, and you probably need an attorney.

 

[nextwife]

I do not work and am 55 years old.

If his business is actually tanking, you'll likely need a job. Better start looking. Not to worry, I'm 54 and got a job I really like last fall - so we are NOT too "old", nor beyond hire age once we are well into our 50s..

 

[LdiJ]

If his business is actually tanking, you'll likely need a job. Better start looking. Not to worry, I'm 54 and got a job I really like last fall - so we are NOT too "old", nor beyond hire age once we are well into our 50s..

You also might want to consider taking some computer classes, if you are not skilled in word processing or other basic computer office skills.

 

[Sw3tflower]

I'm on it

After I got my fee waiver and filed the papers, an attorney said to make an appointment with him. I call him tomorrow after I file.
I have no car or driver's license. I made an appointment with the DMV to get my license on Tuesday.
I am looking into sources for hearing aids so I can communicate and get around again.
I am checking into jobs...but I have no skills. I have no HS diploma.
In the meantime should I contact the LLC attorney or his LLC partner and let them know what is going on?
I don't want to make things worse for me. I am trying to move on. The LLC partner offered to buy out my husband's share and he refused. If they knew he was using LLC funds to pay for personal items and the mortgage, I thought there might be a buy out and I would at least have some of the money from that buy out to use to pay an attorney, find a place to live, buy food etc.....buy me some time till I am able to find a job.
As I see it now, all the community assets have been invested in the LLC, so I will have nothing.

 

[mistoffolees]

After I got my fee waiver and filed the papers, an attorney said to make an appointment with him. I call him tomorrow after I file.
I have no car or driver's license. I made an appointment with the DMV to get my license on Tuesday.
I am looking into sources for hearing aids so I can communicate and get around again.
I am checking into jobs...but I have no skills. I have no HS diploma.
In the meantime should I contact the LLC attorney or his LLC partner and let them know what is going on?
I don't want to make things worse for me. I am trying to move on. The LLC partner offered to buy out my husband's share and he refused. If they knew he was using LLC funds to pay for personal items and the mortgage, I thought there might be a buy out and I would at least have some of the money from that buy out to use to pay an attorney, find a place to live, buy food etc.....buy me some time till I am able to find a job.
As I see it now, all the community assets have been invested in the LLC, so I will have nothing.

Just get with your attorney ASAP. His first move will probably be to have his fee paid from marital funds so you won't have to worry about that.

I would not contact the LLC. If you are perceived as interfering with his job, you could be guilty of tortuous interference and it could really affect your ultimate outcome. That's between him and his partner(s).

It doesn't matter if all your money is tied up in the LLC. You're going to be entitled to half of the marital value of his share of the LLC. In the simplest case, that could be 1/4 of the total LLC value, although there are lots of circumstances where it could be less (such as if it was bought before you were married). Your attorney can help you. If he can't afford to pay you your share of the LLC value (and your share of the other assets), then the judge will probably order the LLC sold - particularly since his partner has offered to buy it.

There are plenty of jobs out there for people without skills. If you can demonstrate that you'll work hard, pay attention to the boss and learn as you go, you can probably get some kind of job. You will probably start with a low salary, but if you work hard, you can move up. My company is always looking for entry level people. Depending on how long you've been married, you may be entitled to alimony as well (ask your attorney).

The big problem will be if he's hiding assets. Your attorney will want to subpoena all of his financial records to see if there is a stream of money going to the Grand Caymans or elsewhere.

 

[nextwife]

Just get with your attorney ASAP. His first move will probably be to have his fee paid from marital funds so you won't have to worry about that.

I would not contact the LLC. If you are perceived as interfering with his job, you could be guilty of tortuous interference and it could really affect your ultimate outcome. That's between him and his partner(s).

It doesn't matter if all your money is tied up in the LLC. You're going to be entitled to half of the marital value of his share of the LLC. In the simplest case, that could be 1/4 of the total LLC value, although there are lots of circumstances where it could be less (such as if it was bought before you were married). Your attorney can help you. If he can't afford to pay you your share of the LLC value (and your share of the other assets), then the judge will probably order the LLC sold - particularly since his partner has offered to buy it.

There are plenty of jobs out there for people without skills. If you can demonstrate that you'll work hard, pay attention to the boss and learn as you go, you can probably get some kind of job. You will probably start with a low salary, but if you work hard, you can move up. My company is always looking for entry level people. Depending on how long you've been married, you may be entitled to alimony as well (ask your attorney).

The big problem will be if he's hiding assets. Your attorney will want to subpoena all of his financial records to see if there is a stream of money going to the Grand Caymans or elsewhere.

You are presuming husband has a half interest in the LLC with his partner. Maybe, maybe not. You are also presuming the LLC has a cash value.

I deal with many LLCs, and some are only created to hold a particular asset, once the asset is gone (SUCH AS A DUPLEX), the LLC has nothing. Also, sometimes it is only the expertise of an individual, or their client list, that gives the LLC any value. We truly can't say that 1/2 his share is 25% of whatever the LLC is worth. Frankly, my husband's and my LLC, for example, is worth nothing without him - his knowhow IS the whole "value". Thus selling the LLC may, or may not, be a pointless exercise.

 

[mistoffolees]

You are presuming husband has a half interest in the LLC with his partner. Maybe, maybe not. You are also presuming the LLC has a cash value.

I deal with many LLCs, and some are only created to hold a particular asset, once the asset is gone (SUCH AS A DUPLEX), the LLC has nothing. Also, sometimes it is only the expertise of an individual, or their client list, that gives the LLC any value. We truly can't say that 1/2 his share is 25% of whatever the LLC is worth. Frankly, my husband's and my LLC, for example, is worth nothing without him - his knowhow IS the whole "value". Thus selling the LLC may, or may not, be a pointless exercise.

You're right about the interest - he may not have half interest. In any event, she would be entitled to up to 1/2 of his interest - whatever that may be.

As for cash value, that has already been established since his partner offered to buy him out. That means there is obviously a cash value (at least equal to what the partner was willing to pay him).

 

[nextwife]

You're right about the interest - he may not have half interest. In any event, she would be entitled to up to 1/2 of his interest - whatever that may be.

As for cash value, that has already been established since his partner offered to buy him out. That means there is obviously a cash value (at least equal to what the partner was willing to pay him).

There was at the time of that offer. We have no idea what the current status of the LLC may be, as the economy has changed in the last 10 months or so.. Maybe the partner just wanted to get rid of a partner for personal reasons, that a third party buyer may not share or place a monetary value on..

 

[mistoffolees]

There was at the time of that offer. We have no idea what the current status of the LLC may be, as the economy has changed in the last 10 months or so.. Maybe the partner just wanted to get rid of a partner for personal reasons, that a third party buyer may not share or place a monetary value on..

The partner's motivations are irrelevant. If someone has offered to buy the stbx's share of the LLC, then the LLC has a cash value. The court won't care what the buyer's motivation is.

Yes, the sitatuion may have changed. All we can do is speculate on the situation as presented. It would be silly to speculate on all the things that could have changed. Otherwise, everyone who asks a question about home equity would get an answer like "you may not have any equity - you'd better run home and make sure a tornado didn't tear your house down'.

 

[Sw3tflower]

Llc

LLC is property, a medical office building. He owns 50%.
Bought during the marriage. Married 27 years.

 

[mistoffolees]

LLC is property, a medical office building. He owns 50%.
Bought during the marriage. Married 27 years.

Then you'll be entitled to 1/4 of the current equity (unless there are other circumstances that you haven't disclosed). He will either have to come up with the money or the court can can order his half to be sold.