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My husband and I are in the process of beginning a divorce.

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We've been married 25 years...
My husband and I are in the process of beginning a divorce. We've been married 25 years and worked together to build what we have. We have a lot of assets, two corporations and rental property. Our kids are grown. We don't want to fight and pay attorneys everything we've worked for so we want to work out a settlement prior to the proceedings. I know in a divorce it's never equal and for me that doesn't matter, but it does to him. This is what he is proposing, I am aware that it is very lop sided but wanted to know if it can work. I have two choices, I can fight for half and see what is left, of which if I fight he will make it harder for me, make me sell my house and everything else for less than what its worth and I can 1/2 of what is left or I can agree with his terms. He want to put the rental property in a trust. He want to have our children run the trust. He of course will still control it to a degree, I will get my part after expenses. I will get my house. He keeps all his toys (2 harleys, a prowler a safe full of guns, Motorhome, travel trailer, boat, a house he owned prior to our marriage which is rental property now and the property that we own personally that both of our businesses are located on, of which rental monies are collected there as well. For me what I get is my house, my car, a couple of lots around my house and a shop which basically is located across the street from my house. My real questions is how can this trust work? Is it even legal to do this and if it isn't what can be done to protect the assets and me for that matter. I know that I need to get an attorney at some point but need to know what to expect. I know him well enough that he will do what ever it takes to destroy what we have and keep from getting anything if I don't agree. Basically he can rebuild his empire as he puts it, but I can't. So I have a real dilemma, I can trust him or fight.
Submitted: 5 years ago.Category: Family Law
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6/1/2012
Family Lawyer: LawTalk, Attorney and Counselor at Law replied 5 years ago
LawTalk
LawTalk, Attorney and Counselor at Law
Category: Family Law
Satisfied Customers: 37,857
Experience: 30 years legal experience. I remain current in Family Law through regular continuing education.
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Good morning,

I'm sorry to hear of the situation.

In a word, you fight. The offer he has made appears so entirely lopsided and unfair that you wold almost need to be comatose to agree to it.

A trust is fine, but only if a neutral third party operated the trust---not the kids with him influencing them at every step. The offer is calculated to rob you of your life savings of marital property. Everything need NOT be sold to do the division and he can't typically force that either.

Every thing will be valued in the process of the divorce and you will be entitled to 50% of every penny of marital property---as Texas is a Community Property State.

Don;t walk, but run to a nearby Family Law attorney and get this going in the right direction. If you bend to these bullying tactics now, he won't give up until you are broken, emotionally and financially.

I hope that you found my answer informative, that you are accepting of my efforts and that you will rate my efforts based on the knowledge I have provided to you.

I wish you the best in 2012.

Thank you.

Doug
LawTalk
LawTalk, Attorney and Counselor at Law
Category: Family Law
Satisfied Customers: 37,857
Experience: 30 years legal experience. I remain current in Family Law through regular continuing education.
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LawTalk and 87 other Family Law Specialists are ready to help you
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Family Lawyer: LawTalk, Attorney and Counselor at Law replied 5 years ago
Good day to you. I wanted to thank you for using JustAnswer, and to inquire whether my answer to you was helpful to your understanding of the law, as regards XXXXX XXXXX

Is there anything else that I can assist you with?

Doug
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LawTalk, Attorney and Counselor at Law
Category: Family Law
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