pre nup

[kitkatrescue]

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?

 

[army judge]

You're jointly and severally liable for all debts.
If your debt is $40,000, you'd each be responsible for $20,000. However, that is often negotiated at the decree hearing. Example, if Annie wants a $5,000 painting, she might assume $25,000, instead of $20,000 debt to offset the value of the painting. But, a
prenup can alter many things. I suggest you both retain counsel to insure your rights are protected, and the prenup is enforced properly. Why? Often prenups are poorly written, and much is left open to interpretation. That is what the judge will ultimately decide. You don't want free legal information dispensed over the Internet from anonymous strangers, if you've taken the trouble to prepare a proper prenup. And, if you created that prenup, it may be flawed anyway. Don't do this alone, retain counsel.




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