Divorce after Twenty years together Community Group
I want to start something for those of us that were married for a long long time. I think that we face a little different issues than those who were dating for a few years or even married for shorter period of time. Being married for so long we have older children some have grandkids dealing with teenagers and their reaction to the divorice empty nesters dating after 40...
There is a conversation going on within another topic right now concerning Dissipation of Marital Assets. A bing! search turned up this definition, which I believe is accurate:
The term "asset dissipation" most commonly refers to the dissipation of marital assets during a divorce. Asset dissipation includes the frivolous spending of marital assets, as well as the hiding or transferring of assets to a third party. The injured party must file a claim of dissipation of marital assets with the family court handling the divorce. If the filing spouse can prove asset dissipation, the judge will order the assets returned to the marital estate. If the spouse filing the claim cannot prove asset dissipation, the judge will not order the assets returned to the estate.
Read more: What Is Asset Dissipation? | eHow.com http://www.ehow.com/info_8656692_asset-dissipation.html#ixzz1p5hxHLbV
My attorney and my accountant and myself spent HOURS poring over the now-X's credit card receipts and eventually were able to track where he was spending 90% of his income. Since we didn't have any kind of legal separation or interim support agreement during the 18 Months of Hell, he had to justify WHY he was using a joint savings account to fund his living expenses during that time instead of his current salary (which was substantial enough to support two households with plenty leftover).
I was also told by my attorney that IF I needed to SELL any marital property in order to make my living expenses (which INCLUDED paying my on-going attorney fees) that it was perfectly KOSHER to do so; I just needed to keep a clear paper trail of what the asset was, how much I got for it and exactly where the money was spent.
I sold a double set of custom made driving harness first and that put another $1,000 toward my attorney's fees. I would have sold the stbx's "mid life crisis car" that he so boldly left in the garage that first winter, BUT without access to the title, my hands were tied. Fortunately, my attorney pressed the point by getting a Motion for Suit Fees through the court and the stbx was ORDERED to hand over $8,000 so that I could continue my suit to divorce him. He was NOT happy about that, but you know what? TOUGH BEANS, BOZO!
So I just felt the need to put this information as a new discussion topic here. I don't know if it applies nation-wide, but regardless if your state is 50//50 or Equitable Distribution, dissipation of assets is dissipation of assets!
The term "asset dissipation" most commonly refers to the dissipation of marital assets during a divorce. Asset dissipation includes the frivolous spending of marital assets, as well as the hiding or transferring of assets to a third party. The injured party must file a claim of dissipation of marital assets with the family court handling the divorce. If the filing spouse can prove asset dissipation, the judge will order the assets returned to the marital estate. If the spouse filing the claim cannot prove asset dissipation, the judge will not order the assets returned to the estate.
Read more: What Is Asset Dissipation? | eHow.com http://www.ehow.com/info_8656692_asset-dissipation.html#ixzz1p5hxHLbV
My attorney and my accountant and myself spent HOURS poring over the now-X's credit card receipts and eventually were able to track where he was spending 90% of his income. Since we didn't have any kind of legal separation or interim support agreement during the 18 Months of Hell, he had to justify WHY he was using a joint savings account to fund his living expenses during that time instead of his current salary (which was substantial enough to support two households with plenty leftover).
I was also told by my attorney that IF I needed to SELL any marital property in order to make my living expenses (which INCLUDED paying my on-going attorney fees) that it was perfectly KOSHER to do so; I just needed to keep a clear paper trail of what the asset was, how much I got for it and exactly where the money was spent.
I sold a double set of custom made driving harness first and that put another $1,000 toward my attorney's fees. I would have sold the stbx's "mid life crisis car" that he so boldly left in the garage that first winter, BUT without access to the title, my hands were tied. Fortunately, my attorney pressed the point by getting a Motion for Suit Fees through the court and the stbx was ORDERED to hand over $8,000 so that I could continue my suit to divorce him. He was NOT happy about that, but you know what? TOUGH BEANS, BOZO!
So I just felt the need to put this information as a new discussion topic here. I don't know if it applies nation-wide, but regardless if your state is 50//50 or Equitable Distribution, dissipation of assets is dissipation of assets!
My state doesn't put in a co habitation clause that I know about. I do know and have stated that if I were to date anyone for too long the ex could try to have my alimony stopped. The state could assume that I was living with or having sex with someone I was dating and bingo; no alimony.
My atty. advised me about his and I have read the laws. I'm not taking a chance on losing my alimony.
My stbx did NOT want to address any of his own personal problems that led to his 'mid-life crises' but I could just see him cowardly lurking as was described. This would be SO him. Chilling.