Mark was having trouble getting a new thread started so I'm posting his questions here for him:
Quick overview.
My girlfriends brother is going through a divorce, he has shares in a company, and his wife/ex wife is taking him to court to try to get some of the value of the shares. He received his shares prior to marriage, but was told by lawyers that he would have to split the growth in the shares with his wife. They have been married for 5 years and have a 6 year old son. The courts have granted him 50/50 with Joint custody.
His plan,
He is currently suffering from depression and keeps bring up the idea of cashing all his shares, selling all his belongings and going to the casino and blowing the money away, than declare bankruptcy. He doesn't care about losing all the money. He sees it as; its better to blow the money than split it with his wife. She has not earned a penny of it. During there marriage he has spent close to $200,000 paying for her education. She is currently a dentist and is on her way to earning more than him. His plan is to pretty much stand up infornt of the judge, turn his pockets inside out and tell them "take what you want, i got nothing"
I have been trying to convince him differently, but he seems stuck on the idea. I told him the courts will not look highly at his actions, and that this might effect his 50/50 Joint custody/access with his son. I told him i would look into the consequences of this action he is considering.
Here are my questions:
-could this jeopardize the child access/custody?
-how will he have to pay his wife, if he has not money?
-if he declares bankruptcy will he still owe his wife?
-is this a stupid idea (keep in mind he doesn't care about losing the money, Just keeping it away from her?
-what actions could the courts take against him?
-could they with hold his inheritance?
thanks for taking the time to read this. Any info would be great
My girlfriends brother is going through a divorce, he has shares in a company, and his wife/ex wife is taking him to court to try to get some of the value of the shares. He received his shares prior to marriage, but was told by lawyers that he would have to split the growth in the shares with his wife. They have been married for 5 years and have a 6 year old son. The courts have granted him 50/50 with Joint custody.
His plan,
He is currently suffering from depression and keeps bring up the idea of cashing all his shares, selling all his belongings and going to the casino and blowing the money away, than declare bankruptcy. He doesn't care about losing all the money. He sees it as; its better to blow the money than split it with his wife. She has not earned a penny of it. During there marriage he has spent close to $200,000 paying for her education. She is currently a dentist and is on her way to earning more than him. His plan is to pretty much stand up infornt of the judge, turn his pockets inside out and tell them "take what you want, i got nothing"
I have been trying to convince him differently, but he seems stuck on the idea. I told him the courts will not look highly at his actions, and that this might effect his 50/50 Joint custody/access with his son. I told him i would look into the consequences of this action he is considering.
Here are my questions:
-could this jeopardize the child access/custody?
-how will he have to pay his wife, if he has not money?
-if he declares bankruptcy will he still owe his wife?
-is this a stupid idea (keep in mind he doesn't care about losing the money, Just keeping it away from her?
-what actions could the courts take against him?
-could they with hold his inheritance?
thanks for taking the time to read this. Any info would be great
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