property division analysis

[TXCowgirl78]

What is the name of your state (only U.S. law)? IA

I have been married for 16 months. My husband makes about 200K per year and we really have no debts. He has a lot of pre-marital assets too (over 1 million). I'm just the opposite and have not worked during our marriage and really have nothing to my name except a car I owned prior to marriage and the cloths on my back. Plus, I hate living in Iowa and have spent about 6 months of our marriage in Texas.

My husband's attorney has made me a settlement offer of roughly 30K. I hired an attorney and he tells me the marital property is closer to 130K and I'm entitled to half of it (my husband has only conceded to 90K of marital property). However, my husband will not agree to anything close to 65K or 45K for that matter and insists on taking it to a judge. But, even though my attorney says I'm entitled to half, he doesn't want this to go to court. So I asked another attorney and although he told me the 130K is shaky, he also recommended settling out of court.

So now I'm confused. if I'm entitled to half, what do I have to fear from going to court? Also, does not working or being gone for 6 months make any difference? Both attorney's say it doesn't, but they act like they don't want to defend that in front of a judge.

 

[Proserpina]

Honestly, we can't really second guess your attorney - he knows ALL of the details of your case.

 

[mistoffolees]

So now I'm confused. if I'm entitled to half, what do I have to fear from going to court? Also, does not working or being gone for 6 months make any difference? Both attorney's say it doesn't, but they act like they don't want to defend that in front of a judge.

There are two problems with going to court:
1. You will have to spend a lot of legal expenses.
2. You might not get anything. You'll never get MORE than you ask for, but you could get way less.

With the facts you cited, your ex admits to $90 K in marital property. Your attorney says $130 K, but doesn't say how he/she came up with that. Another attorney disagrees and says $130 K is shaky.

Sounds to me like $90 K is a fair number. Even if it were $130 K, you're going to have trouble proving it - and will spend even more.

So you have $90 K on the table, so you'd be entitled to half ($45 K). So you have a choice - $30 K without a fight and with no excess legal expenses or the POSSIBILITY of $45 K with additional legal expenses (possibly LOTS of legal expenses because he obviously has the resources to drag it out) (and also the possibility of less than $30 K if he shows that some or all of those assets are separate).

I know which one I'd take, but it's entirely up to you.

 

[TXCowgirl78]

There are two problems with going to court:
1. You will have to spend a lot of legal expenses.
2. You might not get anything. You'll never get MORE than you ask for, but you could get way less.

With the facts you cited, your ex admits to $90 K in marital property. Your attorney says $130 K, but doesn't say how he/she came up with that. Another attorney disagrees and says $130 K is shaky.

Sounds to me like $90 K is a fair number. Even if it were $130 K, you're going to have trouble proving it - and will spend even more.

So you have $90 K on the table, so you'd be entitled to half ($45 K). So you have a choice - $30 K without a fight and with no excess legal expenses or the POSSIBILITY of $45 K with additional legal expenses (possibly LOTS of legal expenses because he obviously has the resources to drag it out) (and also the possibility of less than $30 K if he shows that some or all of those assets are separate).

I know which one I'd take, but it's entirely up to you.

I understand what you are saying. But in all honesty, my stbx is more anxious to get this over with than I am. So it just seems like if it goes to court and a judge sees the numbers, it will be 45K (or more) for me and over with? Where would the extra legal fees come in if his attorney agrees to 90K? Also, our negotiation process has been quite expensive too.

I appreciate your answers, I'm just frustrated and don't know who to believe.

 

[mistoffolees]

I understand what you are saying. But in all honesty, my stbx is more anxious to get this over with than I am. So it just seems like if it goes to court and a judge sees the numbers, it will be 45K (or more) for me and over with? Where would the extra legal fees come in if his attorney agrees to 90K? Also, our negotiation process has been quite expensive too.

Believe me, it's never that easy. Your ex is saying $90 K now, but that doesn't mean he can't argue that it's separate property rather than marital when it gets to court. You already said that your husband wouldn't agree to pay $45 K, so there WILL be a fight if you try to insist on it.

You're also not listening. Even if you agree to $90 K in marital assets, you'd get $45 K if it goes to court. There's no way you would get more without an expensive battle. You might get less - maybe a lot less.

Your story also conflicts. If your stbx is more anxious to get it over with than you are, then you wouldn't be saying "my husband will not agree to anything close to 65K or 45K for that matter and insists on taking it to a judge"

Frankly, you were married 16 months, had a nice standard of living during that time, didn't work, even had a place of your own for the past 6 months, and you'll walk away with $30 K without a battle. Seems pretty fair to me.

 

[spallanzani]

....I think it's bloody insane that by marrying a rich man and staying married for less than a year and a half, you are walking away with almost as much as my yearly salary as a teacher. And I had to pay my own house and car payment out of that.

Take the 30k and walk away. If you fight for more, you're an idiot and deserve what you will get (which will probably not be more than 30k after expenses).

 

[TXCowgirl78]

Believe me, it's never that easy. Your ex is saying $90 K now, but that doesn't mean he can't argue that it's separate property rather than marital when it gets to court. You already said that your husband wouldn't agree to pay $45 K, so there WILL be a fight if you try to insist on it.

So far, his arguments are more about me not contributing financially and being gone so much. He also wants to bring grounds into the picture. And to be honest, I don't disagree with his arguments, but attorneys keep telling me these arguments don't mean squat if it goes to court.

You're also not listening. Even if you agree to $90 K in marital assets, you'd get $45 K if it goes to court. There's no way you would get more without an expensive battle. You might get less - maybe a lot less.

Both attorneys I spoke with have told me he is not acknowledging all assets. One told me 135K and the other told me closer to 110K.

Your story also conflicts. If your stbx is more anxious to get it over with than you are, then you wouldn't be saying "my husband will not agree to anything close to 65K or 45K for that matter and insists on taking it to a judge"

This is a big part of the confusion for me. If a judge will say 50/50 then why not let a judge decide? I'm all for it, but the attorneys don't want to do this. Its like they are afraid of the judge.

Frankly, you were married 16 months, had a nice standard of living during that time, didn't work, even had a place of your own for the past 6 months, and you'll walk away with $30 K without a battle. Seems pretty fair to me.

Actually, if the attorneys didn't keep telling me that I would be throwing away 25K to 50K, I would take the money and run.

 

[LdiJ]

What is the name of your state (only U.S. law)? IA

I have been married for 16 months. My husband makes about 200K per year and we really have no debts. He has a lot of pre-marital assets too (over 1 million). I'm just the opposite and have not worked during our marriage and really have nothing to my name except a car I owned prior to marriage and the cloths on my back. Plus, I hate living in Iowa and have spent about 6 months of our marriage in Texas.

My husband's attorney has made me a settlement offer of roughly 30K. I hired an attorney and he tells me the marital property is closer to 130K and I'm entitled to half of it (my husband has only conceded to 90K of marital property). However, my husband will not agree to anything close to 65K or 45K for that matter and insists on taking it to a judge. But, even though my attorney says I'm entitled to half, he doesn't want this to go to court. So I asked another attorney and although he told me the 130K is shaky, he also recommended settling out of court.

So now I'm confused. if I'm entitled to half, what do I have to fear from going to court? Also, does not working or being gone for 6 months make any difference? Both attorney's say it doesn't, but they act like they don't want to defend that in front of a judge.

You have only been married for 16 months. Its difficult to accumulate (even with a 200k salary) marital assets of 130k or even 90k in 16 months.

30k is a VERY decent offer, particularly if you can avoid having high legal fees in the process. You could take it to court, but your legal fees could outweigh any additional amount you might receive.

You could counter offer that you will accept the 30k, if he pays your attorney fees. 30k would certainly give you enough to start over. Of course you would have to get a job, and perhaps use some of that money to go to school to improve your ability to earn, but its really enough seed money for a decent starting over.

 

[Mass_Shyster]

This is a big part of the confusion for me. If a judge will say 50/50 then why not let a judge decide? I'm all for it, but the attorneys don't want to do this. Its like they are afraid of the judge.

Would a judge agree to 50/50 of the 90K? Maybe the argument is that because you only in the state for 2/3 of the marriage, you are only getting 50/50 of 2/3 of the 90K.

I suspect he is reducing the 90K by 1/3 before splitting it, as you were not involved in the marriage for 1/3 of the time.