Divorce Dilemma

[Larry7626]

What is the name of your state? Fl
Recently my wife demanded that we seperate in order to work on our marital issues. I spoke to attorney friend and was advised that it was acceptable in the courts eyes so I moved into my RV. After weeks of her not communicating with me I found out that she had been having an affair with our church minister, I then caught her sleeping with him twice. Immediately following the second incident I kicked her out of our house and moved back in. Now I have our 3 children full time and she moved in with preacher boy.
Today she emailed me with her ideas on splitting our assets, we also own a corporation together, is it possible for her to sign over her shares in the business in trade for my portion of our homes' equity? Or will she get half of the business regardless.
Larry

[BelizeBreeze]

What is the name of your state? Fl
Recently my wife demanded that we seperate in order to work on our marital issues. I spoke to attorney friend and was advised that it was acceptable in the courts eyes so I moved into my RV. After weeks of her not communicating with me I found out that she had been having an affair with our church minister, I then caught her sleeping with him twice. Immediately following the second incident I kicked her out of our house and moved back in. Now I have our 3 children full time and she moved in with preacher boy.
Today she emailed me with her ideas on splitting our assets, we also own a corporation together, is it possible for her to sign over her shares in the business in trade for my portion of our homes' equity? Or will she get half of the business regardless.
Larry

You can come to any out-of-court property settlement you want. As long as the two of you agree, sign the agreement and present it to the court for inclusion in the final decree.

So, what are you going to do about lover boy and the church?

[Larry7626]

?? I'm still in shock. After 16 years of marriage, I have no idea what to do.
Any suggestions?
If it were up to me all she'd get is a boot in the ass.
I also just found out she's been clinically diagnosed Bi-Polar and Borderline Personality Disorder which she's been receiving treatment for years and never told me.

[LdiJ]

?? I'm still in shock. After 16 years of marriage, I have no idea what to do.
Any suggestions?
If it were up to me all she'd get is a boot in the ass.
I also just found out she's been clinically diagnosed Bi-Polar and Borderline Personality Disorder which she's been receiving treatment for years and never told me.

None of that matters in the property settlement, nor does it really matter in custody matters either.

Basically, what I would recommend that you do is sit down and thoroughly document your finances.

The corporation is separate from your personal finances. You need to determine a valid value for the corporation, taking into consideration all debts and assets.

You need to do the same on a personal level.

The end result is that you should each be entitled to 1/2 of the marital assets, and each be responsible for 1/2 of the marital debts. However, that can be divided up in any myriad of ways.

Example....when my ex and I split up we had just purchased a house and a car and neither had any equity. In addition, the money we had in savings was roughly equal to our marital debt.

I kept the house and car and assumed full responsibility for the payments. I also kept savings and assumed full responsibility for the marital debt. My ex and I both knew that I would do a better job of protecting our credit reports than he would...LOL.

We could have divided the savings and split the debt, however the net result was the same the way that we did it.

If you don't believe that your ex will be fiscally responsible, then take on the marital debt in exchange for a greater share of the marital assets...If the equity in the home is roughly the same as the value of the corporation, then that's a perfectly fair trade off.

Keep in mind however that marital assets include everything...even retirement accounts...so plan accordingly.

[Bali Hai]

[QUOTE=BelizeBreeze;1546900]You can come to any out-of-court property settlement you want. As long as the two of you agree, sign the agreement and present it to the court for inclusion in the final decree.

So, what are you going to do about lover boy and the church?[/QUOTE]

He will bow his head in prayer when lover boy says to do that, and, put more in the collection plate every Sunday.

[Bali Hai]

None of that matters in the property settlement, nor does it really matter in custody matters either.

Basically, what I would recommend that you do is sit down and thoroughly document your finances.

The corporation is separate from your personal finances. You need to determine a valid value for the corporation, taking into consideration all debts and assets.

You need to do the same on a personal level.

The end result is that you should each be entitled to 1/2 of the marital assets, and each be responsible for 1/2 of the marital debts. However, that can be divided up in any myriad of ways.

Example....when my ex and I split up we had just purchased a house and a car and neither had any equity. In addition, the money we had in savings was roughly equal to our marital debt.

I kept the house and car and assumed full responsibility for the payments. I also kept savings and assumed full responsibility for the marital debt. My ex and I both knew that I would do a better job of protecting our credit reports than he would...LOL.

We could have divided the savings and split the debt, however the net result was the same the way that we did it.

If you don't believe that your ex will be fiscally responsible, then take on the marital debt in exchange for a greater share of the marital assets...If the equity in the home is roughly the same as the value of the corporation, then that's a perfectly fair trade off.

Keep in mind however that marital assets include everything...even retirement accounts...so plan accordingly.

You mean a "legally share" of the marital assets don't you mom??

[LdiJ]

You mean a "legally share" of the marital assets don't you mom??

I honestly don't know what you mean by that question. Based on the fact that I know you, I have to assume that you are implying something...but I don't know what it is.

[Bali Hai]

I honestly don't know what you mean by that question. Based on the fact that I know you, I have to assume that you are implying something...but I don't know what it is.

Could the greater share (he perceives as fair) that he might receive be less than the "legal" share that he gets?

Are you suggesting that the split will be a mathmatical certainty?

I think you know exactly what I'm talking about.

[LdiJ]

Could the greater share (he perceives as fair) that he might receive be less than the "legal" share that he gets?

Are you suggesting that the split will be a mathmatical certainty?

I think you know exactly what I'm talking about.

Oh good lord....we aren't back THERE again...sigh...

[ceara19]

Adultery CAN affect both custody and property settlement in Florida. Courts there can still use "moral fitness" as a standard when deciding custody. "Living in open adultery" can be a factor when deciding on the property settlement and it is also a second degree misdemeanor n(798.01) in Florida.

[LdiJ]

Adultery CAN affect both custody and property settlement in Florida. Courts there can still use "moral fitness" as a standard when deciding custody. "Living in open adultery" can be a factor when deciding on the property settlement and it is also a second degree misdemeanor n(798.01) in Florida.

Better review case law on the subject....

Florida has lots of laws on the books that have been struck down via their higher courts.