Nothing is Moving

Get financial tips on divorce and asset division including child support laws, property division, and divorce settlements.

Re: Nothing is Moving

Postby Bubba Seal » Mon Feb 20, 2012 11:14 am

My truck has 125,000 miles on it, and my wifes car has 135,000 on it, I guess we need to trade huh

Like Trevor said, what is your parenting agreement, what do you know, what days do you have the kids, if you sell her your home based business and all other assetts how are you going to take care of the kids, where will your paycheck come from.

You know to have things you say you have and to be so good with business, you seem pretty immature when it comes to assetts and dont seem to know anything about stuff, a few weeks ago the tractor was yours now its marital.

Good Luck, but until you get a real idea of what your dealing with, you may get your way and thats the highway and no time with your kids, be very careful what you agree too and sign right now. Its not an agreement til you sign it, plain and simple. Dont rush this, and for christ sakes dont go buying a new vehicle in the middle of all of this.
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Re: Nothing is Moving

Postby Cuzz » Mon Feb 20, 2012 3:29 pm

Bubba, everything we own is marital and if I said otherwise, then it was just worded wrong or misread.. Parenting time is currently a non issue and if it was I wouldnt of started a thread in the Finacial section. We have both agreed on the mediated terms set by the court for custody and parenting time and there are just to many fine details for our decision, including health conditions, location for health care, family support, and many other determining factors..

Now, moving on and away from the topic of custody, I already took my truck in this morning to have it repaired so trading it in for a new one is now off the table and I wil keep the old truck until the D is final.. As for the tractor, it sold over the weekend and the enitre sales funds were put into our joint account and the sales reciept saved..

I think NJ may be putting a proposal together to buy me out on the business but wants to keep me on payroll so I can offer phone support since she cant run it without me (this would still give me a good income and health insurance).. Last night she mentioned something about waiving CS and alimony on the proposal too.. I am possibly thinking about my own offer of me keeping 20% of the shares and putting a cap on expenses so she cant spend all the money and try writing it all off so there are no profits.. All our trained employees are on NJ's side of the family and there is no way I can take the business with me and try to run it myself while also trying to train new help, it just wouldnt work.. I'm currently waiting for her proposal to see what it says before I think about a counter offer ont he business itself.. I just hope she's not bluffing to drag things out..
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Re: Nothing is Moving

Postby Trevor » Mon Feb 20, 2012 3:50 pm

Any bets on how long the proceeds for the tractor sale will remain unmolested in the joint account? Anyone?
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Re: Nothing is Moving

Postby Cuzz » Mon Feb 20, 2012 4:02 pm

Trevor wrote:Any bets on how long the proceeds for the tractor sale will remain unmolested in the joint account? Anyone?


NJ is currently afraid to spend a penny extra right now because she thinks she'll get in trouble with the courts.. There is also a court order for limiting spending that should be signed by the judge at our pre-trial in less than 2 weeks.. How much would you like to wager?
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Re: Nothing is Moving

Postby Cuzz » Mon Feb 20, 2012 4:26 pm

I'll give you a little more details about my situation.. I moved to a very remote location near NJ family years ago.. Its a very small town and NJ is related to 1/2 this town... Her family became my family until I filed for D and then they and the entire town turned against me.. Its me against this entire town right now and let me tell you its hell and I need to get away from here but I read the list and I'm not leaving until ordered too.. NJ is a severe obsessive and control freak and has split personalities and is now seeing a counselor hoping I will drop the D. She has already been diagnosed with 3 different issues including OCD.. We have one 15s who she is obsessed with too and does everything she can to keep him from leaving the house, including buying him any games and gaming system he wants and also bought him a 55" TV to play all his games on (she paid for this using her money).. When he's not in school he lives on these games.. Yesterday he woke up an 9am and went directly to his gaming system and didn't stop until 10pm last night.. It makes me sick to my stomach to see him sit there al day wasting his entire day,, I try to get him to do things but NJ always talks him out of it.. My goal is to move back towards my family and friends, which is about 200 miles from this hell hole and near the city.. I have already been approved to move over 100 miles by the courts.. I'm in such a secluded location there isn't much to do here anyways so my goal is to show my son what a good time is such as taking him to a Detroit Red Wings hockey game, racing go-carts, going to a Detroit Lions or Tigers game, riding bikes on the 10 mile bike route near my folks house, etc, etc, etc.. There is allot to do there and I know he will have fun and we will finally be able to have fun together.. I think once he gets a taste for what freedom feels like, he will want to be with me more and then we can go from there.. I also have health conditions and can get much better treatment in the city.. What good am I as a dad if I'm dead? I would rather see him less and be able to enjoy him for many years than have another heart attack and be gone before he graduates, right? And there is much much more to this story... I didn't mention much of this because I always see moderators and members dogging the father when he wants to leave but trust me, its for a real good reasons in my case.. And its a losing battle here when NJ is related to 1/2 this town, including the local sheriff having the hots for her and our accountant being her L best friend.. Did I mention she had our banker follow me to my L office the day I filed to see where I was going that day because I pulled the $5k retainer fee that day? Yup, she even has the local banker monitoring what I do at the bank when I'm there and then he informs her.. And the list goes on and on and on.. The sooner I'm outta here, the better......

Edit: BTW, didi I mention I also suffer from stress related disorders such as anxiety and panic attacks because of her?
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Re: Nothing is Moving

Postby Bubba Seal » Tue Feb 21, 2012 10:29 am

Im not gonna bash you, sounds like you have your plan and its moving along, just slower than you want.

On keeping the stock in the company, my ex owned a portion of my business, I bought her out, it just looked to complicated having her involved in any way, but thats just me, Im sure you have reasons to keep your hand in the door. Just from a 3rd person point of view if you only own 20% and she owns 80%, you would just be a minority shareholder, if thats all you can get you may just want her to buy you out of all your shares, maybe make it a payment plan and figure a little interest on it. If I were going to stay in a business with my ex I would have to keep 50% of the stock, that way you have to agree on how money is dispersed, with anything less I dont know if longterm you have any control, also you mention she needs your expertise to run it.
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Re: Nothing is Moving

Postby Cuzz » Tue Feb 21, 2012 2:51 pm

capslock wrote:there is a lot going on in your posts cuzz. I get the feeling that finances aren't your strong suit. focusing on liquidating personal belongings is not a really solid financial plan. I predict a short term "windfall" followed by rough times.
The sales of all this misc stuff is pocket change and I was only liquidating because its going to have to be sold eventually.. And the longer I wait to sel this stuff, the longer I wil be here
I seriously doubt your wife and her family of employees feel the need to give you 20% of the company and health insurance for you to answer phones while watching WWE. Something tells me your wife is the brains of this operation. IF and that's a big IF you walk away with an interest in the company I feel pretty confident that your wife will pay herself and her family salaries that will put your 20% profit sharing somewhere around $1 a year.
Your not even close.. They would easily pay me 20% because they dont know how to run it by themsleves and cant.. I created the business from sctatch..I own my own "brand" of sporting goods that I supply to major chain stores and we offer lifetime warranties and tech support.. I created the brand name and own it and NJ just packs the orders and does the accounting, which I still over-see to make sure it being done right.. Its now so big i cant buy it, run it, and try to train employees, all at the same time.. However, she has everything in plce here already accept the main person that knows everything (me), which means I could easily get pad for watching WWE and would only need to offer some phone support ocassionally

If this was not the case, you would have attorneys working for you. You paid a retainer and haven't heard from your attorney since the first meeting? This isn't how it works amigo. Successful people don't thrill in selling used miscellaneous items as a means of a financial windfall. They see it as a loss selling for pennies on the dollar. As mentioned above, I dont need the money from the sales, I just want to move it now, instead of having to do it later and being stuck here until it does sell

I will further speculate that it was your wife's family's business. If not, you were a fool for hiring only your wife's family. I didnt have much of a choice and I pay these guys peanuts and work them part-time and dont have to worry about them quiting either. I couldnt do this with regular workers..



Good luck Cuzz.
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Re: Nothing is Moving

Postby Cuzz » Tue Feb 21, 2012 4:27 pm

Bubba Seal wrote:Im not gonna bash you, sounds like you have your plan and its moving along, just slower than you want.

On keeping the stock in the company, my ex owned a portion of my business, I bought her out, it just looked to complicated having her involved in any way, but thats just me, Im sure you have reasons to keep your hand in the door. Just from a 3rd person point of view if you only own 20% and she owns 80%, you would just be a minority shareholder, if thats all you can get you may just want her to buy you out of all your shares, maybe make it a payment plan and figure a little interest on it. If I were going to stay in a business with my ex I would have to keep 50% of the stock, that way you have to agree on how money is dispersed, with anything less I dont know if longterm you have any control, also you mention she needs your expertise to run it.


I just want my hand in the door because I know how much the company makes and it would be nice to still have an income, including health insurance without really doing much but offering some phone support.. If they run out of questions, then I get paid for doin nuttin :lol: .. I would also get many expenses paid such as a portion of my electric bill and full internet and phone bill and possibly even my vehicle insurance since it will still be a company vehicle.. I dont really want the tie with NJ but its just to complicated to go any other route, including a buyout which is only going to feed me for so long.. If I only retain 20-30% of the shares, I would have a contract made with caps on the expenses so she cant ditch or spend money and write it off.. We could look at the past 3-5 years and get an average on expenses and then put the cap somewhere around that number, which assures adequate profits then..

I made an appointment with my L for tomorow to go over some things, including the sales of any assets such as the tractor we just sold.. NJ also wants us to sperate our personal savings accounts too.. Right now she is agreeing to things so I'm trying to get as much as I can leagalized before her head starts spinning around and vommiting green stuff again :lol:
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Re: Nothing is Moving

Postby BartSimpson » Tue Feb 21, 2012 10:53 pm

Did I mention that this race to the finish line isn't going to win you anything?

I bet your competition loves the turmoil in your company - and will certainly mention it to those major chain store buyers over a couple of drinks. "So did you hear about Cuzz? I'm not sure what's going on but he left the business and moved, his old lady is running it now and what does she know? Sure you want to buy from her, sounds like trouble without him".

But it's good you have realized the American Dream; make extra margin on the backs of your workers, even more if they are family. I really screwed that up by hiring regular workers, paying a living wage and just pretending they're family.
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Re: Nothing is Moving

Postby Trevor » Wed Feb 22, 2012 1:52 pm

That, boys, was a flame.
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