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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 10-21-2012, 08:18 PM
caranna caranna is offline
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Default Spousal Support for Retired Women

For about 20 years I was very much engaged with businesses in our marriage. I had no help with the kids, housework, cooking, cleaning, child care, etc. etc. I'd sometimes take the kids with me to my office so that I could get work done. Husband was out of town a lot and he left practically everything up to me. He was very uninvolved with the kids.

I'm not whining about the workload I carried in the marriage. I willingly accepted it as my responsibility. I will freely say though, that if I had not worked so diligently in the businesses we had my husband would not have had the large amounts of assets he now has in his possession.

My question is: Has anyone heard of a retired woman receiving spousal support? I'm researching case law and forwarded one case to my lawyer who is very interested.
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Old 10-21-2012, 08:30 PM
dinkyface dinkyface is offline
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I'm not making any comment on entitlement to spousal support, but if you as a team amassed a big pile, then it should be split as part of equalization.
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Old 10-21-2012, 08:39 PM
caranna caranna is offline
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Thanks dinkyface. Agreed. But he has been less than truthful in his reporting of assets; in fact, the off-shore accounts that he had in his name might never be revealed. That is why I am trying to find out as much information that I can about SS. We're not filthy rich, but the financial status is nothing to complain about.
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Old 10-21-2012, 09:21 PM
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If you read my thread of last week Tayken spent considerable time talking about hiring forensic accountants. Might be worthwhile in your case, might not. They bill out at around 650.00/hr.

SS doesn't necessarily end at retirement.

Many people say they have "retired" but still have investments and corporate assets that generate income. I think the word "retire" is therefore quite vague.

I have known people to retire at age 35 after they sold a business. They have several homes around the country and warm tropical locations and money off shore. They have no debt so only income they declare is almost a non-issue. Must be nice eh???

I anticipate my ex will announce his retirement in the next year and say his unemployed g/f is supporting him. Yep what a man!
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Old 10-21-2012, 10:12 PM
caranna caranna is offline
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Quote:
Originally Posted by arabian View Post
If you read my thread of last week Tayken spent considerable time talking about hiring forensic accountants. Might be worthwhile in your case, might not. They bill out at around 650.00/hr.

SS doesn't necessarily end at retirement.

Many people say they have "retired" but still have investments and corporate assets that generate income. I think the word "retire" is therefore quite vague.

I have known people to retire at age 35 after they sold a business. They have several homes around the country and warm tropical locations and money off shore. They have no debt so only income they declare is almost a non-issue. Must be nice eh???

I anticipate my ex will announce his retirement in the next year and say his unemployed g/f is supporting him. Yep what a man!
Ok here's some legal definitions for retirement, to be used with abandon by unscrupulous ex and to be ex husbands: (ok wives too, but not so much):

Retire (Retreat), verb abandon, abire, concedere, depart, discharge, fall back, go back, leave, part, recedere, remove, retrocede, seclude oneself, sepaaate oneself, shelve, take leave, turn in, vacate, withdraw
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Old 10-21-2012, 10:16 PM
caranna caranna is offline
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For almost one year I have had thoughts about hiring a forensic accountant, and recently mentioned this to my lawyer. He did say it would be expensive.
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Old 10-21-2012, 10:34 PM
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Yes I have always kept that as an option as well. Very, very expensive. I have a friend who is a retired accountant (retired at age 52) and is very wealthy. We used to golf together and from time to time would talk to me about very complicated divorce cases he worked on. His firm billed him out at approximately 650.00 and hour but he had mentioned there were many other costs involved. What the most expensive part was his attendance at court as an expert witness. Most of the grunt work in the firm is done by junior associates and you are billed accordingly. At least if you go to an accountant you can get a free consultation from them (unlike lawyers).

I am tired of the legal stuff and it really bothers me at how much money the lawyers make on continuous litigation. That in itself makes me pause and question everything. I am not saying that I will never use the services of a forensic accountant. Depends upon what information falls into my lap in the future and the circumstances at that time I guess. Each of us are in different situations. If my ex pays me what was agreed upon in our divorce judgment then I am content as the SS was agreed upon by both of us. If you know for sure that your ex withheld information about his assets then you can most certainly pursue the matter. My situation is different as my ex went bankrupt and prior to that he quietly moved money around. Many people ask how that is possible. It certainly isn't impossible and when you have a business it is very easy for deals to be made on the side/under the table and the wife is none the wiser. This is the money that is next-to-impossible to trace. If money has actually gone through a business then a forensic accountant, or even just an astute accountant, can trace things without much difficulty. In my case I have information but no legal teeth. When you are married to your business partner the civil law gang don't want to help you and neither do the police. You can have all the evidence in the world and you are merely shrugged off as "the ex wife" - not the business partner. I found this to be quite shocking to be honest.

Good luck with whichever route you decide to take. Keep me informed as you progress.
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