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First, I am definitely letting the divorce go through.
If I run out of money and stop paying the support before the divorce is finalized, can my ex-wife do anything on her end to stop the divorce from going through?
Well, since I have set a date for remarrying, my lawyer is meeting with the chief clerk to get the divorce decree expedited.
So I will then find one way or another to keep paying until the decree is final, even if I have to take cash advances from my credit card.
Now, if after the divorce is final, and it is shown that I am completely broke and negative net worth because I have taken cash advances to pay the alimony, will that go badly against me? Or will it actually look good and I can say I have been trying to meet my obligation while trying to turn my business around?
Just one last question about alimony modification. My understanding is that alimony is entirely a function of my income, not my assets. Meaning the fact that I bought a house with IRA money last year, or whatever money I have spent, is not relevant to my alimony obligiation. Because I would prefer that my ex-wife not see every financial transaction I made last year. That alimony is just supposed to come from the money I am making. So am I correct, that the only issue when it comes to filing the alimony modification is what is my current income and current net worth? So I can't be accused of buying a house last year when my money was good, along the lines of I should have kept extra savings around in case my business failed because I am supposed to pay alimony no matter what?
Related to the imputement, my ex-wife's attorney put a line in our post-nuptial agreement that said since I am a graduate of Cornell (my degree is in philosophy, though) I have the potential to earn $500,000 per year. (I have not made $500,000 per year for over 6 years.) The consulting business I have now is relatively new, only 2 years old, and one I came up with when my last business failed. I did have 5 great years in a high risk business between 2003 and 2007, which generated the $4 million my net worth that my ex-wife owns 100%.
I really don't have a way to start a new business from scratch and generate $500,000 per year. Also, since I have virtually no net worth, I have not capital with which to start one. My girlfriend does have some family money, and since at least she owns a house for us to live in in Romania, I am not completely destitute. So in this situation, is it likely a judge would actually impute income to me? My financial records show clearly my business going down, down, down every month and I have documentation of the reasons why, which are clearly beyond my control.
I didn't get into the specifics before, but the reason my business is failed is not because of the economy. Two years ago, in an attempt to bolster my reputation, I created a press release saying I had been named the best in my industry. One of my competitors saw the release, and wrote on his blog that I was a fraud and never to be trusted. Then other competitors picked up on this and amplified this. For a while, these blogs were far down in search rankings and did not hurt me. Now that time has gone by, these blogs calling me a fraud and a crook show up right under a search of my name. This is what has killed my business and my personal reputation. There is really no way for me to fix this. Remember, the press release I created was done during my marriage, not recently as an attempt at self-sabotage. This is certainly not something I would have done to myself. The press release itself, while a little over the edge, was not really the worst thing to do in the world. It was really the way my competitors took advantage of it to ruin me. But in terms of alimony, it was not something I did intentionally to avoid alimony, and what has happened is certainly beyond my control. Would I still likely have income imputed?
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