Wreckless Depletion - does non cooperation qualify ?

[plainNamedDad44]

Hi, related to my previous post.

wife was refusing to act jointly to stop investment losses unless she got money in advance. Still has not acted and we continue to have losses. Is this wreckless depletion ?

[SomeGuy]

I just went through something similar (a real estate capital loss).... and wish I had better news. The way it was explained to me (by my lawyer and other knowledgeable people on my side) is that "capital" and "investment" losses are par for the course over time. They cannot be considered "intentional" or "reckless".

They would probably argue that if you sold today, the "investment" could turn around tomorrow. I'm certainly not a lawyer.... just an average person with a similar misery.... but reckless depletion seems to have a high bar.

[plainNamedDad44]

I just went through something similar (a real estate capital loss).... and wish I had better news. The way it was explained to me (by my lawyer and other knowledgeable people on my side) is that "capital" and "investment" losses are par for the course over time. They cannot be considered "intentional" or "reckless".

They would probably argue that if you sold today, the "investment" could turn around tomorrow. I'm certainly not a lawyer.... just an average person with a similar misery.... but reckless depletion seems to have a high bar.

SG, thanks for your response. The lunacy is she is losing money equally (funds are frozen in a joint account and we would have to agree to save them).

What if I can show she is demanding advance funds in order to do what should responsibly be done to save both our bacon ?

[involveddad75]

I think Tayken just posted a caselaw from BC on this very topic, and it was about selling a property. In the end it was deemed Family Violence that the mother had prevented the selling of the property in a timely manner.

http://www.ottawadivorce.com/forum/f...78/#post145621

[plainNamedDad44]

I think Tayken just posted a caselaw from BC on this very topic, and it was about selling a property. In the end it was deemed Family Violence that the mother had prevented the selling of the property in a timely manner.

http://www.ottawadivorce.com/forum/f...78/#post145621

Thank you. I am digging through CanLII for case law, still havn't found case where spouse causes "wreckless depletion" post valuation date to the point of being "unconcienable"

If I find, I will post. Does anyone have any idea ?

[stripes]

I hate to be picky, but you might have more luck if you searched for "reckless" rather than "wreckless" depletion. I hope you proofread all your legal documents.

[plainNamedDad44]

LOL, thanks stripes! That is funny.

[standing on the sidelines]

how much does she want vs how much is equalizaton going to be approximently?

I wonder if you could give her the money be say that its part of her equalization and will be treated as an advancement of that? Or maybe tell you will give her half of the investement now but stipulate that its not part of the equalization as it has already been split??

[involveddad75]

how much does she want vs how much is equalizaton going to be approximently?

I wonder if you could give her the money be say that its part of her equalization and will be treated as an advancement of that? Or maybe tell you will give her half of the investement now but stipulate that its not part of the equalization as it has already been split??

If she had a High conflict personality she may take the money and further use it to extend the litigation.

You should explain that the lawyers will split it up according to the signed agreement.

[standing on the sidelines]

If she had a High conflict personality she may take the money and further use it to extend the litigation.

You should explain that the lawyers will split it up according to the signed agreement.

true but at least then she will be using her money instead of both of them losing money.

[involveddad75]

But then he'd be going longer in court.
Typically High Conflict Personalities will continue to litigate until they can't afford to. So giving them access to more funds isn't really the best approach.

[standing on the sidelines]

But then he'd be going longer in court.
Typically High Conflict Personalities will continue to litigate until they can't afford to. So giving them access to more funds isn't really the best approach.

so basically either way he is going to lose money, either from the losses or longer court battle.

Small thing to consider, once the losses are gone, they are gone. At least with court he may be awarded some costs.

Its a damned if you do, damned if you dont type of thing.