sher871 Posted November 23, 2011 Posted November 23, 2011 I am going through divorce and I live in Illinois. I know for fact my husband is very afraid of my attorney and he is afraid that the division of assets will favor me. I want to purchase a townhome before settlement. My husband is going to refinance our home in his name so that my name will be removed from the mortgage so I can qualify for loan to purchase the townhome. However, my attorney said I need to get my husband's signature on the Joint Parenting Agreement and he also needs to put it in writing that he will sell our current residence. After arguments, my husband said he will sign the joint parenting agreement but that he will draft a letter stating: 1) his intentions to sell home this spring 2) he wants a settlement agreement BEFORE the closing of the refinancing and before the closing of the possible townhome. Am I being paranoid to think that my husband is using the townhome (that he knows I want badly) as leverage? For example, if there is something he isn't happy with in our proposed settlement, he will tell me that he won't refinance our home which will prevent me from getting the townhome. I asked him to state in his letter that he won't put a stop on refinancing--but he said no because he can't predict the future, so he won't put it in writing. I am posting a separate thread on a "non marital asset" that he owns. This is a stock fund in his name worth $150,000. He originally got $25,000 from his first wives life insurance policy (she died) which he put in a stock fund which grew to $150,000. He tells me that since this is a non-marital asset, I am not entitled to any of that money. I don't want to be morbid and insist I split the fund money. However, I am curious if it's accurate that i'm not entitled to any of it. Thanks!!
Tiberius Posted November 24, 2011 Posted November 24, 2011 Different states different laws. If he consulted his lawyer and thats what he told him he is probably right. If he is just guessing, you should consult your lawyer on wether or not your are entitled to any money from his dead wife. Also you are going through a divorce. Of course he is going to use whatever he can as leverage. Wouldnt you?
PegNosePete Posted November 24, 2011 Posted November 24, 2011 Why are you asking on an internet forum when you are paying a qualified professional who has all the facts in front of him??
Lucid1 Posted November 24, 2011 Posted November 24, 2011 PegNosePete, Good point, but she's venting. Like all of us. She needs someone to hear her story, which is the entire function of this great forum. Sher871, what he said. Go see your lawyer.
carhill Posted November 24, 2011 Posted November 24, 2011 (edited) My .02... House will probably sell quicker and for more money in the spring. Both parties are looking for the best deal for themselves. That's normal. It's a business negotiation. Though he could use the stock fund to mitigate other settlement liabilities, if divorce is filed in a community property state, it's unlikely the fund will be brought into the settlement by law unless funds were co-mingled. The MSA sets out what is intended by the parties and contracted for settlement. If what is agreed upon doesn't happen, either party can seek relief through the court. How and when the final judgment happens depends upon the disposition of the agreement and the intent of the parties. Some D's go to judgment with the financials bifurcated and finished later. Some settle out before the MSA; some before judgment. My exW and I settled out before filing simply due to market timing issues and that we were amicable. I don't think he's 'up to something' other than making the best of a bad situation. Nobody wins in a D, IMO. Good luck. Edited November 24, 2011 by carhill
Recommended Posts