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Question for an experienced family law attorney. Going

Question for an experienced family...
Question for an experienced family law attorney.
Going through divorce. 7 year old son living with (soon to be ) ex in TX. We have been living separately since mid 2011 (not legal separation) We have been filing taxes "married filing separately" since 2012.
Ex submitted financial affidavit without disclosing some of her bank accounts, brokerage account, 1 of the 2 cars she has and a house that was bought under her mothers name (to bypass having that count as marital asset)…all these were not disclosed on financial affidavit. I disclosed everything on my financial affidavit. Since the separation has been for past 5 years, my attorney was saying that regardless of all that ex has disclosed or not, it may not make any difference since the Judge may consider 2011 date as the date to determine asset distribution. Me and my attorney have been discussing proposing a settlement, which is fine with me (even though she has has not dislclosed number of things) that each party keeps what they have. But looking at the financial affidavits, it will not be on the record all that ex has not disclosed and looking at it it does not indicate all that I am foregoing to reach a settlement. I understand once settlement is done its a closed chapter. Given the difference in income of what ex makes and I make, my attroney calculated that I will not be owing anything to ex as child support (or she will be owing a very small amount to me every month), I will have 20-25% time visitation with my son. My attorney is proposing that we propose that as a settlement that each party keeps what they have and no child support is due and no alimony by either party is due now or n future. Although I am fine with settlement, but I feel that what all the ex is not disclosing she should disclose so that it is documented all that I am foregoing to reach the settlement. Because once settlement is done, its done. However child support is modifiable (say if my income increases in future and ex income decreases). Is there any advantage in forcing ex to disclose everything just for documentation, even though settlement is what I am thinking.
If so, does she need to file a new affidavit or can it be done otherwise without a new financial affidavit being filed, Thanks
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Answered in 2 minutes by:
8/22/2017
Gerald-Esquire
Category: Family Law
Satisfied Customers: 4,822
Experience: Over 30 years of experience.
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Hello,
Thank you for using Just Answer. Please bear with me while I review your question. I will respond fully shortly. Thank you for your patience.

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Hello,

Thank you for your patience and thank you for using Just Answer. I want to provide you the best service I can. Please feel free to ask any follow-up questions you have.

I am an attorney with 30 years of experience; I hope to provide you information that will help you in resolving your question.

You r attorney is NOT steering you wrong. You could continue the process and file additional discovery requests and perhaps be able to show that she has additional undisclosed assets.

To do so will take more time and cost you significantly in terms of attorney fees and costs. It is likely that the court will disregard her additional assets as acquired post the separation.

While I can not tell you what the best course for you is (only you can decide that with the input from your attorney) given the amount of time that has passed closing this out with a settlement has merit. You are correct once it is done it is over.

As to modification of child support that is always possible when circumstances change. Either one of you can seek that if it is appropriate. However, child support is based on INCOME not assets. so if she is holding existing accounts that will not alter the child support calculation.

I hope the information I provide is useful to you. I want you to be comfortable and satisfied with my attempt to assist you. Please, if you have ANY follow-up questions, feel free to ask.

If you ask a follow-up question and I do not respond immediately, it is because I am temporarily unavailable. I promise to respond as soon as I return. Please note that I am often unavailable Friday evening through Sunday.

Please do not forget to give me a positive rating. It adds nothing to your costs but helps me greatly. Thank you.

If you are dissatisfied with my response, PLEASE let me know before giving me a negative review so that I may try to be of better assistance. Or, if you prefer, let me know and I can “Opt Out” and your question can be re-posted without additional cost to you. I will be fair to you, and only ask the same from you.

Good luck.

Please note: Information is educational and not given as legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.

Kind regards,

Gerald

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Customer reply replied 6 months ago
Hi, on settlement proposal my attorney lists all that she has disclosed and all that I have discolsed and that we get to keep. My question is: how about all the accounts that my ex has not dsiocsed? The settlement agreement makes no mention of that. In other words I feel its a moot point to list accounts/assets when the list is icomplete. To the eye, it looks that I am not foregoing anything and that its a “fair” settlement. Would it be to my advantage to have my attorney list accounts/house/car I know that ex has but did not disclsoe. Should I ask my atorney to list those as well so that it depicts that I am willing to forego all that (I.e. would that in any way be of benefit to me for now or in future …. or atleastjust for the sake that in FL I believe it becomes a public record and iso that it correclty shows that I did forego a lot of things to come to settlement). Or at the very least I would like my attorney to inform my ex’s attorney that this I all that I am forgoing to reach a settlement. What do you think? Thanks

You make a very good point. AND it is to her benefit to list all the assets if you are releasing a claim to them.

Theoretically you could file a fraud claim after the settlement (except that you are aware of the assets) .

Suggest to your attorney that they go back and have her attorney explain that it would be better for her to list the assets.

BUT if you have no interest in them and just want to get on with your life it seems like a good deal of expense and stress to have an expensive fight over the issue.

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Customer reply replied 6 months ago
When you say “Suggest to your attorney that they go back and have her attorney explain that it would be better for her to list the assets.” Do you mean she would need to file a new financial affidavit. Or can she just list in her email, and ask to be included in the settlement agreement?
Lastly I will also a have few separate parenting plan questions. How can over this week for you. Would you be able to help me with those?
Customer reply replied 6 months ago
Lastly I will also a have few separate parenting plan questions over this week for you. Would you be able to help me with those?

It could be listed as an addenda to the affidavit by email if you agree to that.

I am available for additional questions this weekend. Usually I am away but I plan to be home. Also I am available tomorrow and later Thursday.

Just type "for Gerald" at the start of your new question.

Kind regards,

Gerald

(Please do not forget to rate me – click the five stars. It adds nothing additional to your costs, but it helps me greatly. Plus it is good Karma for you. Thank you.)

Gerald-Esquire
Category: Family Law
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