Hey all, so I’m going through a divorce and found out my ex’s company is in bad shape. My lawyer suggested I might be able to claim part of it, but I’m wondering if it’s worth spending the money on a valuation since it seems almost worthless now. Anyone been through something similar? Should I just let it go?
I’ve been there, and it’s tough. A valuation can be pricey, but if you have suspicions about the company’s future, it might be worth it. My ex’s ‘sudden business losses’ turned out to be temporary, just until our divorce was final.
@Sawyer
Yeah, that’s what I’m afraid of! He could be letting it slide now just to avoid a payout. Did you end up spending on a valuation?
@Sawyer
Yep, it was worth it in the end. My lawyer found enough to push for a fairer settlement. Maybe bring it up with your attorney?
If he’s paying you out of his retirement, that’s not ideal for him but could protect you. It might be worth keeping that income if you can!
Thorne said:
If he’s paying you out of his retirement, that’s not ideal for him but could protect you. It might be worth keeping that income if you can!
Good point. My lawyer mentioned the same thing… as long as he’s giving me some support, it’s better than nothing.
Are you able to request his business records in discovery? That might give you some insight without committing to a valuation.
EmmanuelBrown said:
Are you able to request his business records in discovery? That might give you some insight without committing to a valuation.
Yeah, I’m not entirely sure how that works. My lawyer said it might be possible, but I don’t know if he’d actually hand anything over…
EmmanuelBrown said:
Are you able to request his business records in discovery? That might give you some insight without committing to a valuation.
Got it, it’s tricky. Sometimes just asking for documents can make them more open to settling.
Sounds like he’s mixing personal stuff with business? If it’s an LLC, that could be a problem for him if it comes out.
Foster said:
Sounds like he’s mixing personal stuff with business? If it’s an LLC, that could be a problem for him if it comes out.
Yep, he’s definitely used the company card for personal stuff before. My daughter even pointed it out to me!
Foster said:
Sounds like he’s mixing personal stuff with business? If it’s an LLC, that could be a problem for him if it comes out.
LLCs aren’t supposed to mix that way. It could hurt him if you bring that up!
Might be worth chatting with a financial expert, even just to understand what’s on the table. Divorce is complicated with a business involved.
Wesley said:
Might be worth chatting with a financial expert, even just to understand what’s on the table. Divorce is complicated with a business involved.
True, I do feel like I’m flying blind here. I might look into it more with my attorney’s help.