icwal
enthusiast
Reged: 11/19/07
Posts: 334
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I Filed Sept. 2007. Still married and living together (which sucks). STBX has own business. Do I have the right to ask for 2008 statements, including ckecks and deposits?
2006 and 2007 was full of dissipated income/assets. Does he still have to account for how he spent his earnings for 2008
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guerino1
addict
Reged: 01/14/08
Posts: 525
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Hi Icwal,
You can ask for such information but it doesn't mean you're going to get them. You certainly have no "rights" to it.
If he has an attorney, his attorney will advise him as to what he should or shouldn't supply to opposition, as part of discovery. Even so, he may choose not to supply it at all. You will have to flip the bill to try and make him do so and, in the end, whether he supplied the data or not may be meaningless to a judge.
His business may be important to you for two reasons:
#1) Depending on when he built the business and any contributions by you, you may be entitled to a portion of it, in the form of a payout to you. (Equitable Distribution)
#2) It dictates his income level, which would drive alimony decisions (Spousal Support)
I hope this helps.
My Best,
Frank
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finz
Carpal \'Tunnel
Reged: 06/17/08
Posts: 6462
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I thought (based on my reading here at DS, not anything that I know as a fact) that the answer would depend on what state she was from and if that state determined assetts at the value at seperation or at the time of the final decree.
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guerino1
addict
Reged: 01/14/08
Posts: 525
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Hi Finz,
I believe that in all states, a business owned by one of the spouses is always an "active asset", which is valued at time of separation, not divorce. The reason for this is that the business could grow, significantly, post filing date based on the efforts of the single spouse that puts his/her efforts into it. The other divorcing spouse would not nor should he/she be entitled to such growth.
My Best,
Frank
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finz
Carpal \'Tunnel
Reged: 06/17/08
Posts: 6462
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Gotcha......thanks !
I'm learning all kinds of new things about active and passive assets with some of these recent questions....like the diamond necklace one. Very interesting.
Thanks for the explanation Frank !
Are salaries and debt accrual (if used for living expenses, not extraordinary items) also settled as of time of seperation ?
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guerino1
addict
Reged: 01/14/08
Posts: 525
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Quote:
Gotcha......thanks !
I'm learning all kinds of new things about active and passive assets with some of these recent questions....like the diamond necklace one. Very interesting.
Thanks for the explanation Frank !
Are salaries and debt accrual (if used for living expenses, not extraordinary items) also settled as of time of seperation ?
Hi Finz,
You're welcomed but please don't take my own explanations as golden. Always check with an attorney and/or the legislation in your state.
To my knowledge, unless there are exceptions, the distribution of accrued debt is as of the day of filing. In the event Pendente Lite awards are put in place, such payments are made to control the accrual of debt that results post-filing.
Salaries for calculation of Spousal Support, Child Support and Pendente Lite are typically take as of the date of filing (many judges will use the last 2 - 3 years). However, salary at the time of dissolution may play a factor in the ability to pay support (especially if it's lower) and I believe will be tied to Spousal Support in the event of "lifetime" alimony, where the courts sadly tie the receiving spouse's lifestyle to the paying spouse's income growth.
My Best,
Frank
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