kitkatrescue
New Member
My spouse and I are divorcing after 18 years marriage.. The pre-nup indenties the following quotes as our individual properties and will not be divided. Debra's "any and all Pension and profit-sharing plan benefits accrued through her employment . Any and all insurance policies, individual or through her employment, be they whole life, term insurance, or other types of policies"
Roger's "working capital in business as self employed individual with cash or inventory value which varies from day to day, but listed at $25,000.00.
Roger has a business bank account with $14,000.00 as current balance, and approx. 5 cars on the lot.
Does this mean he can deduct up to $25,000.00 from our joint assets,even though we still owe $35,000. on a"line of credit" we took on the house so he could start this business?
Roger's "working capital in business as self employed individual with cash or inventory value which varies from day to day, but listed at $25,000.00.
Roger has a business bank account with $14,000.00 as current balance, and approx. 5 cars on the lot.
Does this mean he can deduct up to $25,000.00 from our joint assets,even though we still owe $35,000. on a"line of credit" we took on the house so he could start this business?