Meeting with lawyers-- update

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Registered: 05-07-2003
Meeting with lawyers-- update
2
Wed, 12-14-2005 - 2:22pm

Ok, so my lawyer and I met with STBX and his new lawyer this morning. Things went fairly well, except STBX announced that he "wants the diamond wedding ring". I said, "He never bought me a wedding ring. Just the engagement ring, and a diamond anniversary band for our 10th anniversary in 1996. I consider those gifts, and I'll have to get back to you." He was referring to the anniversary band, which we bought for $599, and has 2 rows fo diamonds, 1 carart, total weight. WHY would he want my ring? It was a gift... I don't wear it anymore, but is he making a statement or something? It seemed like such an odd request.

ALSO... if you've been following my posts, STBX & I have 3 businesses: a salvage yard, a self-storage facility, and a U-Haul rental (all located in one place). STBX has been caliming that his parent own a large part of the business, claiming that they "Loaned us" money-- I have NO knowledge of any loans. I know my ILs gave STBX money, and at the same time also gave their other 2 kids the same amounts. Anyway, STBX's lawyer brings out this paper where my MIL has itemized all these so-called "loans". They're ALSO claiming to own our house... evidently, they'd made some mortgage payments (in addition to STBX and I making payments), and the grand total for all these "loans" was close to $200,000. My lawyer told STBX and his lawyer that she would need to see promissory notes, contracts, etc. AND the cancelled checks WITHOUT a memo written in AFTER the fact. (That can be checked as well.) After STBX and his lawyer left, my lawyer and I went over the "loan" document from MIL, and my lawyer said, "They dgave the other 2 kids the same amounts?" I said yes. She said is it some sort of inheritance thing? That jogged my memory, and I said, "You know, now that you mention it, I remember MIL saying that she didn't want her kids having to fight over wills and money after she and FIL were gone, so they wanted to dispose of their assets before they died-- meaning she doesn't loan her kids, she gives the money to them. She has always told me-- for at LEAST 15 years: 'If I give Bobby money, then I give the same amount to the other kids, so it'll be Even-Steven.'" I love how she's trying to have it both ways... claim it's an inheritance, then say it's a loan... It should be interesting.

EDIT: $67K of those alleged "loans" are from 1987, when STBX made a balloon payment on the salvage yard. He'd been on a "lease to buy" plan when I'd met him, and married him in 1986. So... the remainder, some $127K is from my ILs "loans". Funny, my mom loaned us the money to purchase the storage software that we use. Does that mean that she owns part of the business? I asked my lawyer, and she laughed and said no, but she saw the point I was trying to make. THAT was a true loan-- we paid my mom back. All the "loans" from PIL we never meant to be paid back, from my understanding.




Edited 12/14/2005 5:42 pm ET by susieyippin
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Registered: 03-15-2004
Thu, 12-15-2005 - 4:30am
From what i understand, in most states, inheritance is NOT considered joint marital property UNLESS it is put into some joint venture ... as in your home or business you BOTH owned. So, i bet you are safe!
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Registered: 05-07-2003
Fri, 12-16-2005 - 7:42am

I just realized that in 1991, STBX's parents GAVE their daughter a house that they owned. My ILs have 2 rental homes on their property. I know my SIL could not possibly have the funds to buy a home on Cape Cod -- the assessor's website lists the sale as "$1.00". From the data on the site, the property went back and forth from the family trust to my SIL for $0.00., although the property is valued at $369K. MY SIL has limited funds, and she couldn't afford to pay a mortgage AND utilities AND groceries... I also think that my FIL gave a business to his older son- possbily BIL took over the business that FIL had built. So there is a history of the parents giving things of enormous value to their kids... I sent this info to my lawyer.