My current business partner is about to go through a messy divorce. He currently owns everything he has including 40 acres in a popular coastal town that has three houses on it which he collects a decent amount of rent from.

My question is... Is there anyway he can get around not having to give her half of everything he owns? We have been discussing putting the property in my name as an option? We will be going to see the solicitors on thursday so any help would be greatly appreciated!!

SandS said...

Because it's a " messy divorce " the solicitor you see will " clean up " .

sadly that is true

Is this for a mate or yourself?

If a caveat has been placed on the property its probably best to agree to place the property on the market and then divide the proceeds 50/50. If lawyers get involved then kiss goodbye to so much capital.

Just agree to split it down the middle. That way both parties will leave with more than what they would otherwise.

BulldogPup said...
if there's kids under 18 well it won't be anywhere near 50/50 regardless

More like 40 / 60 on a great day but probable worse.

Best of luck to him and as Mac says beware of how this may effect your business.

Sell it for cheap claim a loss put in Swiss bank account, hire jaen Claude van-dam and he can sort the problem out with diamonds :)

Get him to sell everything to you for $1, then she can take half of whats left - 50c and jam it. Then, depending on how good a mate you are, you can sell it back to him for $1.50 (gotta make something out of it) and all is roses, or as Iron Maiden once said... "Run to the Hills"

Problem is that it takes 2 to avoid lawyers. Takes only one to involve the turds.

Seen it often from workmates (and lost a few good ones along the way): missus consults a lawyer even if the bloke tries to settle around 50-50. Has to give in to all the threats, etc. Included in some cases renting the kids for holidays, that sort of stuff. Then she gets a new business card saying "retired divorcee".

All the best.

Sailhack said...

ok said...

My current business partner is about to go through a messy divorce.

My question is... Is there anyway he can get around not having to give her half of everything he owns?

Flame-suit on-

Why should he avoid sharing with her? Has she only recently come onto the scene, or has she supported him whilst he's gained these assets? Hard to comment without knowing the full history.

He might be a pr!ck & she might deserve more than half! The fact that "he owns everything" and it's in his name, not hers may have been due to him being a dominating guy & wanting everything in 'his' name only, whilst his wife sat back & trusted her husband to make these decisions to support his family.

He may have shagged every hooker in the village & been a wife-basher to boot...too many variables!

On the other hand, he might be getting screwed over by a gold-digger.

Nice to see someone put a bit of an even view onto it instead of the usual 'poor old guy got ripped off, missus did him for everything she could, it was so unfair...', sure it probably sometimes does happen, but some guys behave like asses, threatening, domineering...

We're a democracy, if they can't sort it amicably they should lay all their assets and financials and circumstances before the courts and let the system that we, the majority, voted in sort it for them....

Dialogue from recent movie...


"Why does it have to end this way?"

..

"If it wasn't this way, it wouldn't be ending..."

Sailhack said...
On the other hand, he might be getting screwed over by a gold-digger.

My ex was more than a gold digger she had a mining permit!!!! ... or it seemed that way.

Ok, transfering assets into your name will almost certainly not work as he intends.
The combined assets will be considered, this includes her assets also.
If possible, seek mediation, agree on settlement and then seek 'order by consent' from court (this is where parties agree out of court, then the court reviews the agreement, if the court is happy it is fair it creates a court order to that effect).
Consider seeking mediation ASAP, even it there is no chance she will co-operate. She cannot drag it into court unless mediation has been attempted first.
Don't be surprised if legal advice is to evict daughter ASAP.

Been through my own version of this. Calmy explained to the ex, "whatever our disagreements (on exact share of $) might be, they will be small compared to what the lawyers will take out of the equation".
Managed to get agreement on asset split (had to let a few things slide that pissed me off), then paid a lawyer $2k to write it up and submit it to the court (this can be done without a lawyer).
An alternative strategy may be to evict daughter, stop rent $ going to ex and delay by whatever legal means possible. If he takes this path, he will understand the saying, "Hell hath no fury like a woman scorned".
Good luck, PM me if the above not clear

Stuthepirate said...

Get him to sell everything to you for $1, then she can take half of whats left - 50c and jam it. Then, depending on how good a mate you are, you can sell it back to him for $1.50 (gotta make something out of it) and all is roses, or as Iron Maiden once said... "Run to the Hills"

I know you are joking, but I think there have been cases where people have tried to hide or transfer assets like this and the courts have reversed it.

start shagging your business partner's "ex" misses to hold on
to the other half of assets,you may end up with more of the
buisness than you already own

e0422713 said...

list the value of the assets now

list the value of your assests after divorce



i say you be lucky at 33.3% of original

If he didn't got married and lived in sin would the guy be screwed so bad?

I remember a story on ACA or TT a few years ago, where a woman fought it out so hard, she ended up owing her lawyer money out of her own pocket. I think we (the viewers) were supposed to feel sorry for her. That's karma at it's best , J

whippingboy said...
All he'll lose is money.

Yep. As they say, if you lend someone 5$...

some other guy said...

where a woman fought it out so hard, she ended up owing her lawyer money out of her own pocket.

Yep, I have seen a couple of those too, including one where a fairly well-off couple coming out of the ordeal rather destitute... I wonder where the money all went...