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  • #76
    The biggest asset is the business.

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    • #77
      No delaying. It is a thought to try and hang onto cottage.

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      • #78
        1/2 of cottage. Just rough numbers. 100k. 1/2 of house (less the lines of credit secured by house) 70 k. 1/2 of condo which we do not own yet ( 1/2 of down payment) 17k. This equals 184. This amount is possibly supported by my cash flow.
        Equalization of RRSP would be about 20. We are up to 200.

        Ouch. When I look at that real rough math it is daunting but possibly do-able. Am I dreaming?

        I am thinking via my fingers. Someone poke holes in it and bring me down to reality. It is a glimmer of hope. Happy to reveal #s to spur on suggestions. Ask away or should I move this to new thread?
        Last edited by Craigerst; 11-07-2014, 07:04 PM.

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        • #79
          No anything is possible and everything is negotiable.

          Money is cheap to borrow nowadays. You're only in your 50's and can likely recoup quickly. On the other hand, paying an equalization payment, over time, is not unheard of. If you have a carrot at the end of the road then she very well may be cooperative. You are, after all, the father of her children and believe it or not, that does carry some weight for some people, particularly after a long term marriage.

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          • #80
            sounds like a good idea. Float it by her and see what she thinks. Hopefully she doesn't "throw the baby out with the bathwater"

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            • #81
              Some women (people I should say) are also pretty "in love" with being able to say they are Mrs. bigbusinessman's wife. I know it sounds corny but it is the reality for many women who have never had a career outside of the home. Also keep in mind that friends of your wife, and family members, might think the two of you are worth much more than you really are and are encouraging her to go for your balls. Keep this in the back of your mind when considering things.

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              • #82
                Actually... If YOU have to keep an asset intact in order to continue income that you both live off, it seems perfectly reasonable to me that SHE should also accept delay in cashing out this asset. Which basically takes the business out of the equation in terms of the immediate equalization payment.

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                • #83
                  Exactly. I cannot see why they would not accept this. If they force sale of business now I am screwed. My cash flow will not support payment. If they consider this then I may be able to hang onto cherished cottage with a big mortgage. Would have to live with siblings or father for a while. It is something to think about. Can anyone crunch #s. Happy to share them.

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                  • #84
                    Wow. I need someone to play devil's advocate before I get into this idea too deep. To go work for someone else would cut my pay in 1/2 basically. Surely they realize I cannot pay big SS without co.

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                    • #85
                      See I knew we had some intelligent brains on this forum ^

                      Much depends upon the nature of the business. Is it a one-man show that can be shut down, sold off and can he realistically continue on in a new business with 1/2 of the assets of the previous business?

                      Much for him to consider with the expert advice of an accountant and lawyer hopefully before he makes a formal offer to settle.

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                      • #86
                        I'm no financial wizard so I will defer the discussion now to others who are.

                        Good to see you thinking about things and knowing there very well may be a light at the end of the tunnel.

                        Good luck.

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                        • #87
                          Maybe I am in a dream world. No more dreaming. Reality is what rules.

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                          • #88
                            I see where you are going Arabian. I do not think this is possible. I am male just to clear up conversation. I suppose your thought is accurate but no. No reopening with 1/2 the assets. There would be a non compete if business was sold I expect. Lots of food for thought though.

                            Your comments indicate you are not familiar with thread or I am not presenting the situation correctly.
                            Last edited by Craigerst; 11-07-2014, 07:32 PM.

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                            • #89
                              Pretend you were a judge, what would you do?

                              They will equalize all the assets and keep the company intact. Just because you are ordered to pay her an amount you won't necessarily have to pay her right away. They will just charge you interest on the amount.

                              They want to make sure you continue to earn as much money as possible to pay support payments.

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