Normally, LLCs and corporations are to protect you from personal liability, It's not really a divorce protection strategy but it sure is interesting you see it as one.
I don't see it as a divorce protection strategy. I am not concerned as much with the home, because like I said before, we don't actually own it. There is no title on the dwelling. It is not permitted through the city as a single family home. It is permitted as a managers dwelling on a commercial property. It has no mortgage loan, no legal agreement, nothing. It is in fact, property of the business.
More than the house, I am concerned with the shares in the business. I do not understand all of the ins and outs of legal matters, nor all of the protection an LLC would provide me personally in this situation. However, that is my biggest concern. The house is secondary.
Originally Posted By: 25yearsmlc
I posted on your older thread but I'll say the rest here.
Who cares if YOU THINK it's selfish of her to want a return on her investment? The court could not care less what your opinion is of that financial argument, b/c it's financial...not emotional or based on your take on things.
The home itself shows in insurance figures to be worth roughly what is owed. As a secondary insight, I had a real estate developer/agent come through and assess the house. He figures it is worth roughly what is owed, or slightly less if it were brought up to "like new condition" and sold in the market. Therefore, why should wife get this huge return on her investment? It makes no sense. I understand her reasoning....and that is simply that she wants to start a new life and that new life will cost money. Therefore, she needs money. That reasoning doesn't make financial sense to me, or even ethical or moral sense for that matter. I honestly don't see how a judge would see it any other way. Why on earth do "we", meaning myself as well as the business and my family, deserve to take a financial hit while wife is the only one who benefits? That doesn't seem fair, does it?
Originally Posted By: 25yearsmlc
Apparently you believe She "donated" that money for your family's business, so you could mistreat her and force her to leave the marital home? B/C THAT'S ^^^HOW SHE SEES It and to me, it seems reasonable. Wrap your brain around this.
I wonder, now that money is an issue for you you seem to have amnesia about how you got here.
If you want to blame someone for ending the family, look in the mirror and stop putting this on her.
You make a good point. First of all, I don't feel she donated "her" money to the family business. I feel she invested into it, just like we all did. unfortunately, there are no gurantees and the real estate market just hasn't been on a steady upswing over the last 6 years. Thank God we are almost flush and the whole thing is not completely upside down. There are a LOT of properties that are in THAT position right now.
As far as me mistreating wife and forcing her out of the family home, I am going have to disagree. Like we all know, marriage is a two way street. Now, I have been the only one trying to save this marriage, but wife has an equal amount accountability in the demise of the relationship. Plus, I did not force her out of the family home. One day, she simply decided she no longer wanted to live in the house, had a girlfriend show up and packed up her clothes and moved into our apartment full time. Prior to that, we were sharing times with our house while the other stayed elsewhere for D benefit. The day she left was the last day she "invested" into anything. The business and I have been carrying the weight of all the housing expenses for roughly 6 months. Wife hasn't paid a dime, and she feels that she doesn't have to. Prior to the separation, W and I were mutal partners in our marriage. We split EVERYTHING. Now that she is in the position where she no longer wants to be a part of the marriage, all financial obligations regarding housing should fall on me? So let me ask you, how is THAT FAIR?
Originally Posted By: 25yearsmlc
IMO, when you are honest, which you aren't at the moment, here's the answer....to the question about what you'd do for your d...
IF YOUR D married a man who treated her like you treated your w, I think
you'd have helped her leave a lot sooner.
I honestly, sincerely disagree. The reason I say that is because I also would have seen the way my daughter was treating that man. I would obviously take her side, but I would believe she should hold her fair share of accountability
