What is the name of your state? Iowa
Hopefully will be working this out before court date. A little background first. Marriage for 13 years, one daughter 3 yrs old. Have a sprint car racing hobby that has been done since high school. Wife wants half of it. I owned all the tools before marriage and had two cars before marriage. How can she get half of the value today if I had this stuff before. Granted I have newer stuff by selling old and getting new. The only money that has ever been put into this hobby is from winnings and sponsors. (I only make $35,000 a year and wouldn't be able to race if not paying for itself.) I also owned a mobile home before we were married which I paid $5000. I sold it for $5500 about 5 years later and put that money down on house that we purchased. Why would we have to split the equity evenly. She has not put anything towards the house payment since we moved there. Could the equity be split accordingly?
Hopefully will be working this out before court date. A little background first. Marriage for 13 years, one daughter 3 yrs old. Have a sprint car racing hobby that has been done since high school. Wife wants half of it. I owned all the tools before marriage and had two cars before marriage. How can she get half of the value today if I had this stuff before. Granted I have newer stuff by selling old and getting new. The only money that has ever been put into this hobby is from winnings and sponsors. (I only make $35,000 a year and wouldn't be able to race if not paying for itself.) I also owned a mobile home before we were married which I paid $5000. I sold it for $5500 about 5 years later and put that money down on house that we purchased. Why would we have to split the equity evenly. She has not put anything towards the house payment since we moved there. Could the equity be split accordingly?