TimC-M8 Posted October 20, 2010 Share Posted October 20, 2010 Wife of 14 years wants a divorce. She has lots of guilt, which I'd like to use to my advantage. We have two kids, but I don't anticipate there being a custody dispute. So... -------------- Liabilities: - About to close the doors on our failed retail business. Much debt, including IRS. May file Bankruptcy - business, personal, both, no sure. Assets: - Mid 1990s SUV, and an '09 car in pretty good condition, which I do like, that she's inclined to let me have. We Owe $15k on it, unfortunately, it could be bought used for about $15k. - Nice mobile home worth at least $80k, unencumbered. We pay lot rent rent and own no real estate. -------------- My wife and I want her and our kids to stay in the Mobile home. She doesn't have any money right now, but she should make $60k / year over the next several years. If not now, I'd eventually like her to be able to own 100% of the mobile home - it's actually in a nice community for our kids. We'd like to do this with no lawyers or mediation, and as intimated, I'd like it to be a good deal for me, but still reasonable enough for her and the judge to sign off on it. Any and all financial settlement ideas would be much appreciated. Link to post Share on other sites
fltc Posted October 20, 2010 Share Posted October 20, 2010 You NEED an attorney if for no other reason than: 1. He/she can advise you on what the judge will accept, if a settlement is too one sided the judge can deny it even if you both agree. 2. He/she can draw up the agreement for you both to sign so there'll be no misunderstandings later. The above shouldn't cost too much, you can always ask beforehand. Link to post Share on other sites
carhill Posted October 20, 2010 Share Posted October 20, 2010 Try mediation. Our local law school offers it for free and prepares the MSA for free. We filed ours today. The self-help advocate at the courthouse (also free) smiled and said everything should go through fine. Since they haven't been smiling much for the last six months, I hope that's a good sign. They're moving to a much larger facility at the end of the year because so many people are choosing to and can process divorces mostly themselves. By uncontested, are you meaning default? We did default with a MSA. IOW, exW served me, I did not respond, we proceeded through disclosure and mediation (formality, since we agreed on everything) and MSA. Here's my advice. Spend some money (heck, put it on a card and put the card in the BK) and talk to a lawyer and financial advisor about *structuring* the failure of the business and the divorce in the least injurious way and with the methodology most likely to pass court scrutiny, then use free resources to execute the plan. Another bit of advice: Don't think about 'taking advantage' of your wife's 'guilt'. Put that out of your head. Work together for a win-win losing scenario, since no one wins in a divorce, only limits losses. Fuggetabout emotions, games or revenge; think about doing it as efficiently and as cheaply as possible. Sell the idea of more money going into her and your pockets. Good luck Link to post Share on other sites
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