Breakups & Divorce Support Group
Just broke up with someone or in the midst of a difficult divorce? Breaking up is difficult no matter what the circumstances are. They say that time heals all wounds, but sometimes a listening ear or a hug can work wonders for the heart. Whether you need a place to vent, someone to hold you to No Contact, or need advice about what to do, we're here to help.
I'm going throug a divorce with 2 rental properties and our house involved 2 401k's and a pension. My husbands best friend is a morgage broker and has some how finagled a recent purchase of a house for my husband. I don't believe his name is on the deed as of yet but I bet there is an agreement on a transfer after the divorce is final. That way he cannot get into trouble with marital assets. I also believe he is planning to try and get both rentals by selling them and having his buddy purchase them somehow to my husband's favor.
We don't have enought assets to offset a buyout of my portion of his pension. Should I get a CPA or a Financial Planner or a Financial person to help make a fair deal IF Their is one? Or would you only rely on a divorce lawyer? We live in a no fault divorce state with equitable property division (not community property) All property is divided 50/50.
We don't have enought assets to offset a buyout of my portion of his pension. Should I get a CPA or a Financial Planner or a Financial person to help make a fair deal IF Their is one? Or would you only rely on a divorce lawyer? We live in a no fault divorce state with equitable property division (not community property) All property is divided 50/50.
deleted_user
I think that you need to have your attorney freeze the assets. I don't think that it matters if he is going to buy a house, so long as the funds that he uses to buy the house are net of your property settlement. Hopefully, your attorney will not allow the sale of any assets until there has been a final property distribution for your divorce. Again, I would consult your attorney first and ask them if you need to have an accountant look at the figures. Good luck honey. You need to take good care of yourself - he sure won't do it for you.
deleted_user
I forget to mention that my undergraduate degree is in Accounting. I certainly don't know everything about property distribution but I think what I told you is correct. However, you should ask your attorney.
deleted_user
Funny that I am thinking about if I should talk to a CPA. However, my situation is much simpler. The only common property we have is the house. Since we are in CA everything is 50/50, that means all our savings/pension/401K should combine and divide by 2. He wants me to buy out the house and I wonder if paying him 1/2 of the remaining mortgage is fair. That's why I am thinking about talking to a CPA.
deleted_user
Don't need to freeze any thing because all the real estate requires my signature/consent to sell.
deleted_user
I would talk to your attorney first. He or she would then bring in a CPA if necessary. My stbx is a CPA and is called in on divorce cases all the time. There are issues here that related to both divorce law and financial transactions. You might need two professionals but your divorce attorney should be able to coordinate that. AND make sure you have an attorney who does nothing but divorce. Those who practice general law in addition to divorce don't usually have enough experience to handle a complication financial arrangement. Good luck.
deleted_user
Another reason to have your atty hire the financial advisor is priviledge. If you hire the CPA or whatever, there is no priviledge, but if your atty hires him/her, it becomes work product. At least this is true in WI.
deleted_user
In my state the assets are frozen during the divorce with the exception of business income. Talk to your attorney because he should not be messing with the assets.
deleted_user
We are not allowed to sell anything until it is all finalized in court.
deleted_user
your attorney should be able to offer a reputable cpa firm to do the investigation for you. you should look through the buddy's information as well, if your husband's not paying cash for the house, there had to be a preapproval, etc. which should be easy to obtain that information via a credit check, etc. still follow proper procedures, talk to your atty. about this.
deleted_user
your attorney should be able to offer a reputable cpa firm to do the investigation for you. you should look through the buddy's information as well, if your husband's not paying cash for the house, there had to be a preapproval, etc. which should be easy to obtain that information via a credit check, etc. still follow proper procedures, talk to your atty. about this.
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