Swan Hill
New
Reged: 05/03/08
Posts: 1
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I just found out that my husband is having an affair. This isn't the first time he has done it and I have decided that I am done with him and I will be filing for divorce. We have been married 17 years and have 2 teenage sons.
7 years ago, I bought a young show horse and put it training with a professional. My husband has no interest in horses and has never even been out to the barn or to a show. I paid the horses expenses from our joint account however, I made more than enough money to pay the expenses every year.The horse has been a fabulous show animal and is now worth $200,000-300,000. He has now reached the top of his sport and I am going to sell him this year. It absolutely kills me that my husband may get half of the value of this horse that he has had NO say in whatsoever.
The money that I get from the sale was to go toward our childrens education (private high school and college).
I was thinking that I may sell it to my sister for $1000 and have her be the owner and sell it later this year. She could then keep the money in an account to be used for my kids education. I know there would be capital gains for her, etc on the sale of the horse but I was wondering if this is illegal and would the judge still consider it marital property if I sell it before filing for divorce.
BTW, only my name is on the registration papers of the horse.
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theanswerguy
Platinum
Reged: 04/12/07
Posts: 2312
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I know there would be capital gains for her, etc on the sale of the horse but I was wondering if this is illegal and would the judge still consider it marital property if I sell it before filing for divorce.
>>>>>>>>> It's called dissipating marital assets .
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Never let your sense of morals get in the way of doing what's right. Isaac Asimov
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KGrow
Platinum
Reged: 01/27/06
Posts: 3153
Loc: Colorado
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The horse is clearly marital property. The horse is clearly worth more than $1000. Your publicly stated intent is to defraud your husband. So, yeah, it's illegal and your sister would be an accessory.
Why don't you take this above-board and try and negotiate that the proceeds be put in a trust for the children. That might solve some of you tax problems too.
If you do this prior to disclosing your intent to divorce, it probably will go more smoothly.
Edited by KGrow (05/03/08 07:52 PM)
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Jada
Platinum
Reged: 06/02/07
Posts: 3501
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You could sell the marital property for less than the market value. But the judge will probably order that your stbx gets half of the market value price. Which means that if the horse is worth $5,000, you would have to give him $2,500. The amount that you actually got for it wouldn't matter since it was so far below the market price that it would be seen as deliberately trying to reduce the amount that he gets. And that would be a correct view based on your post.
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EZmark
Platinum
Reged: 06/04/07
Posts: 292
Loc: Florida
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The affair doesn't matter. What made him look elsewhere?
Judges usually get mad and punish dissapation of marital assets which you clearly intend. The fraudulent transferred asset will be encumnbered and restored to your name within a year in civil court, at no penalty to your sister, but you will probably pay court costs and it will cost you your otherwise overwhelming female advantage in court.
Give it up. Horsey is a marital asset and created from the joint account. He is entitled to half it's true value becuase you married him and he is breathing, albeit down GF's neck. Perhaps you can claim special equity and some offsets will be made because he's a man. He might get 40%. After 17 years you could trade horsey for alimony. But if you do (what he may even deserve) you will be punished. Welcome to family court.
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Jada
Platinum
Reged: 06/02/07
Posts: 3501
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[quote]The affair doesn't matter. What made him look elsewhere?[/quote]
He's an immoral jaca$$, that's what made him look elsewhere.
She's not responsible for his actions. He cheated and that's all on him.
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KGrow
Platinum
Reged: 01/27/06
Posts: 3153
Loc: Colorado
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Certainly not always the case but, cheating is used as a crowbar to extract oneself from a difficult marriage. Often it is an unconscious plan. So it is not something to be dismissed outright as a simple moral failing.
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Jada
Platinum
Reged: 06/02/07
Posts: 3501
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[quote]Certainly not always the case but, cheating is used as a crowbar to extract oneself from a difficult marriage. Often it is an unconscious plan. So it is not something to be dismissed outright as a simple moral failing. [/quote]
I did not say that the spouse who didn't cheat was completely blameless in the demise of the marriage.
What I said was that the cheating spouse is the one who is completely responsible for his/her behavior. Cheating is a choice. And the person cheating is completely responsible for that choice.
The person who is cheating could have ended the marriage first rather than cheat.
So, yes, it is because he is a immoral jacka$$. One who is risking giving his spouse AIDS/HIV because of his actions.
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KGrow
Platinum
Reged: 01/27/06
Posts: 3153
Loc: Colorado
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[quote]The person who is cheating could have ended the marriage first rather than cheat.[/quote]
Problem is, that takes courage. So call him a coward. I'm fine with that. Immoral is a stretch for me.
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Beat-Down
Platinum
Reged: 08/20/07
Posts: 223
Loc: Texas
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I had purchased some hunting property about a year before my divorce. My wife at the time had no interest in the property. She never even went there with me and the kids. During the divorce she brought up the property and wanted half of it. She wanted me to sale it and split the money. I reminded her that we had bought the property so that the kids and I had a place to deer hunt. I explained to her that it really wasn't fair for her to make me sell it. My divorce wasn't nasty and she didn't ask for a whole lot at all. She just wanted out and ASAP. In the end I kept the property. Sometimes it pays to be honest and upfront about things. My divorce was very different because she didn't fight me for much.
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Don't stop until it sounds expensive!
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