I see your concerns and your points in what you are telling me. I'm going to try to explain better where I'm coming from.
Our home is our biggest asset (besides our troubled business). WH told me that I can have the house. However the debts that we have; business and personal have personal guarantees attached to it. So I'm jointly responsible for them. If my WH disappears into the thin air I have to pay for all of it. So paying it all off is in my best interest in our situation. That way I also feel that I'm fair to him since I will keep everything what's left of the equity in our home after everything is paid off (Where I live the law believes in no fault divorce & 50/50 split). After all of our debts are paid off it will still leave me with a hefty cash payment towards a smaller home and I will have to take out a small mortgage for the balance. Small enough that I can pay for it by myself even if I have to take a job. Or I can buy an apartment all cash.
After the debts are paid off, I will still remain 50% owner of the business, but I will remove myself from all financial guarantees and as the officer of the corporation, therefore will have no financial obligation for future business debts. I will remain as a shareholder and will work for the company in the capacity that I'm currently working - on a salary and with 50% share of any future profits. I also expect WH to pay spousal & child support. Hopefully we can agree on an amount without a layer just to do a notarized separation agreement. If not I will have to involve lawyers.
I'm trying to set everything up in such a way that I'm protected from further debt and that if worst comes to worst and I have to get a job and he doesn't contribute, D16 & I will be OK financially (not great, but OK). So that's my big plan for now.
Should it not work (us working together) I will have to go to a lawyer and have the company evaluated and he may have to buy me out. That is if the business survives.
Your Opinions and Ideas are welcomed.
M53 H54 D17 M33Y T38Y Bomb OW 09/09 OUT 10/09 BACK 11/09 OUT 01/10 WANTS TO R 04/10 BACK with OW 05/10 Wants to Reconcile 05/11 I said NO
