Separate asset or marital

[aroundtheworld]

Just reiterating this: why is the joint personal account being used? Why doesn't the LLC have separate everything?

X and Q are right: OP is at risk of being fleeced. And the children are the ones that suffer if she doesn't use her spine - none of us are saying get nasty. We are saying to be assertive; don't be a doormat and call it being amicable.

Correction. It is an S Corp not LLC. The rent gets paid directly to the personal account because that's how it is set up.

 

[Zigner]

Correction. It is an S Corp not LLC. The rent gets paid directly to the personal account because that's how it is set up.

That actually makes things more complicated, not less. Speak to an attorney

 

[zddoodah]

Correction. It is an S Corp not LLC.

Doesn't change anything.

The rent gets paid directly to the personal account because that's how it is set up.

Sigh...giving circular answers is only going to annoy people. WHY is it set up that way?

 

[LdiJ]

That makes sense to me.
Yes, we are getting a divorce. I had like it to be very friendly. We have 2 young kids, STBX wants 50/50 custody on paper but in reality he wants them only on Friday and Saturday nights only. I would love to raise the kids 5 days each week but I wonder how much child support I will get if documents state I get them 50% of the time only.

Do NOT agree to 50/50 if he does not intend to exercise 50/50. He is doing that only to get out of paying much child support. You honestly need an attorney. He is definitely trying to bamboozle you.

 

[not2cleverRed]

Correction. It is an S Corp not LLC. The rent gets paid directly to the personal account because that's how it is set up.

Why was it set up to go to the personal account?
Why wasn't a separate account set up exclusively for the business?

Furthermore, since you seem to be imprecise about other things: are you confusing joint custody with 50/50? Because there is a huuge difference.

 

[LdiJ]

Why was it set up to go to the personal account?
Why wasn't a separate account set up exclusively for the business?

Furthermore, since you seem to be imprecise about other things: are you confusing joint custody with 50/50? Because there is a huuge difference.

The OP was pretty specific about the 50/50. However, you are correct, it is possible to have joint legal custody (joint decision making) without a 50/50 timeshare. However, that has nothing to do with the amount of physical custody that determines child support calculations.

 

[Zigner]

"Joint custody" is clearly defined in MI law: https://www.legislature.mi.gov/(S(rgw2avtgb14zvzrskakyhub1))/mileg.aspx?page=getobject&objectname=mcl-722-26a