I think you missed one of the finer points....
It does not matter if you purchased the house before marraige IF that
house has been the house that you and your wife have been living in,
then the courts will more than likely declare it the "matiral home".
The second they declare your house the "marital home", then she will
be entitled to 50% of the equity. If her lawyer is smart, then she
will try to claim 50% of the market value - your counter to this is
that your s2bx is ONLY entitled to 50% of the change in equity of the
asset over the period of the MARRIAGE ONLY.
So, you buy a house before the marraige. Presuming that you paid cash,
and it was $500,000. So as of the date of SEPARATION (you MUST
establish this legally) the market is UP, and the house is worth
$600,000. Then she will be entitled to ($600,000 - $500,000)/2 =
$50,000. IF, OTOH, the market is DOWN and the house is only worth
$450,000! THEN SHE OWES YOU ($500,000 - $450,000)/2 = $25,000!
If she would be entitled to 50% of the increase in equity, then she
MUST be held responsible for 50% of any DECREASE in equity! You will
likely never see the money, but it could be a good bargaining chip.
RUN - do not walk - to a good man-friendly lawyer!
On Thu, 25 Oct 2007 08:02:52 -0700, John <qjohnny2...@yahoo.com>
wrote:
>On Oct 25, 10:53 am, NewMan <CloakedRun2
...@yahoo.ca> wrote:
>> How naive can you get???!!!
>> If the MAN brings in the $1 Million, then what will most likely happen
>> is that the wife will get the house and furniture, AND she will get
>> 1/2 of the cash on hand. So, Man with $1 Million marrys and divorces 6
>> months later and walks away with $250,000 - LESS his and HER lawyers
>> fees and likely with an order for spousal support for 1 to 2 years,
>> and no roof over his head. He would be lucky to walk away with the
>> shirt on his back.
>> If the gender roles are reversed, then the man will likely be taken
>> away from the marital home in handcuffs by the police. He will NOT
>> receive any of the cash, or the house. AND, if there are children
>> involved, he will likely be ordered to pay child support - even though
>> he has no home and can't afford to put Hamburger Helper on the table.
>> And his failure to pay that support will likely land him in Jail.
>> This is what the courts - heavily infulenced by the femminist lobby -
>> call "equitable distribution".
>> This is why any rich man with a brain in his head either does not get
>> marrried, or has a TEAM of lawyers draw up a bullet-proof pre-nuptual
>> agreement.
>> Case in point - Paul McCartney. What a yutz! He was advised that a
>> pre-nup was a good idea, and he thought he knew better, and it is
>> going to cost him - in excess of $100,000,000 - or is that 100,000,000
>> pounds sterling? Does not matter. All this makes his money grubbing
>> s2bx is no more than a high-priced whore. Somehow she feels ENTITLED
>> to a piece of Sir Pauls fortune - even though she was never around
>> when he was busting his butt trying to get his first single song some
>> air-play. Amazing. But Sir Paul was forewarned, and chose to ignor
>> that warning. I bet he wont make THAT mistake again any time soon!
>> I digress...
>> You need to seek legal advice as the answer to your question will vary
>> significantly based on the jurisdiction where the divorce is filed.
>> Where I live, any money which is "co-mingled" - IE put into a joint
>> bank account - SHOULD be split 50/50. This often does not happen - and
>> in favour of the woman. Also, any money or assets which are "used for
>> marital purposes" SHOULD be split 50/50. Again, this usually does not
>> happen - and in favour of the woman.
>> Where I live the only shot a man in this situation has is that his
>> money STAYS in an account IN HIS NAME ONLY, and he never touches the
>> account - not even ONE CENT - during the marriage. Any withdrawl from
>> the account to do something stupid liuke purchase the marital home
>> would give the courts all they need to declare that the account was
>> used for "marital purposes", and then award at LEAST 50% of that
>> account to the s2bx wife. She could then use that money to tie him up
>> in court and squeeze more out of him.
>> A better deal for the man with $1 Million would be to purchase a house
>> in HIS NAME ONLY - BEFORE - marraige, and rent it out to someone else.
>> Then use the proceeds from the rental - which would be considered
>> marital income - to rent / buy the marital home! That way the asset
>> has NEVER been used for "marital purposes". Possession in 9/10 of the
>> law. If the house is in HIS name, then the courts would be hard
>> presses to try and take it away from him. They might try, but I think
>> it could be sucessfully defended on appeal.
>> Basically men are screwed royally - especially those with some money,
>> but not alot. Men with alot of money are still screwed, but they have
>> so much money it is more of an annoyance than anything else.
>> I pray you are not in this situation.
>By pure luck I bought my house before marriage.. Thank God!
>Though I'm probably screwed for the furniture. I live in PA.