I am upset...

WantFit

WantFit

Cathlete
Over the weekend, I was told by my friend that one of her friends whom I met a few times is in the process of divorce. The wife is moving out and living with her boyfriend. She wanted 1/2 of everything. I have no problem she asked for things belong to her and the husband, or even to husband only. I was really upset when she wanted the assets of the husband ex-wife, who died of cancer. Those assets was from her life insurance which supposed to provide cushions for their daughter. She died when their daughter was only 3 months.

The current wife is not lacking of money. She has very successful career, her boyfriend has good job and salary. I just don't understand why people can get so needy and greedy. I can not help thinking about that little girl, she is 5 year old. How sad she is. She had to experience losing mommy two times!!

The husband married current wife only half year after his ex died. All of his friends had a problem with that. Now this, friends thought he deserved it. But why the daughter has to lose her share in this whole mess? I learnt a lesson from this. I am going to update my will. If anything happens to me, all my assets goes to my children. My husband can manage the money for them, but in case he remarry, he will be release from this duty. The appointed bank will assume the trust duty for my kids. What an ugly world, you just have to watch out for your kids. My heart aches for the girl and pray for her...

Sorry be so down, I need vent.

Thanks


WantFit

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That's awful...I hope this person doesn't get what she is after. She has no right to it IMO. No right what-so-ever. Whatever this man has from his deceased wife that was intended for the children needs to stay with him. She shouldn't get any of it. People are waaay to greedy when it comes to divorce IMO anyway these days but this goes beyond that!

Just my 2 cents!:)
 
>That's awful...I hope this person doesn't get what she is
>after. She has no right to it IMO. No right what-so-ever.
>Whatever this man has from his deceased wife that was intended
>for the children needs to stay with him. She shouldn't get
>any of it. People are waaay to greedy when it comes to
>divorce IMO anyway these days but this goes beyond that!
>
>Just my 2 cents!:)

Agree. But according to my husband in IL she probably would get what she asked. He said since the husband did not have prenuptial and the ex wife did not specify in her will that at least her life insurance should only be used for her child. The worse thing was they used part of the money to buy the summer house in Lake Genevoa. Even the husband could find a good lawyer, by the time he wins the case, it might not have much left for the girl. Most of it will be paid as a fee to lawyer. She is in the no win position. I just wish God could do some work in this lady making her change mind for sake of the girl.

I always thought the prenuptial and terms in using assets were too cold between family members and love ones. Now it wakes me up. Only those cold terms writen in paper will ultimately protect my children.


WantFit

http://pg.photos.yahoo.com/ph/ddw98/my_photos

http://wantfit.blogspot.com/
 
i agree with wendy it wasn't for her or her husband it was for the children. but yes this is an eye opening for everyone to update their wills and don't be afraid to ask for a prenup in a situation like this. if the spouse soon-to-be gets offended then they are not the understanding person they should be. JMO. i hope she doesn't get it or she decides what she is doing is not right and backs off. if hubby and i split he can have whatever the hell he wants just give me my exericse stuff and viola and I will be on our way.

kassia

When they discover the center of the universe, a lot of people will be
disappointed to discover they are not it -- Bernard Bailey
 
Just because she wants it doesn't mean she's going to get it. If they live in a community property state and the husband kept the life insurance proceeds in a separate account, since he came into the marriage with it, it would not be part of the community property. In a non-community property state, a good judge will not divide the proceeds of the life insurance between the spouses. Fortunately, what you want and what you're entitled to under the law are two different things. }(

-Nancy
 
I don't know on this one, Nancy ;) There's a good argument that the life insurance proceeds are marital property, especially where the husband used part of the insurance proceeds to buy a summer home rather than strictly setting them aside for the care of the child. If I were the wife's attorney, I'd argue that he can keep that money but lose an asset somewhere else to make up for the wife's share of those insurance proceeds.

That being said, there are a lot of factors that come into play here such as length of the marriage, community property state v. non-community property state, etc. The husband ought to consult with an attorney to see exactly what his rights are in his state and how to best resolve this situation.

And one step further...this woman is a greedy dog to want those proceeds instead of leaving them for the child. You never know what motivates people (money, jealousy, failed relationship, etc.) and you never know the real case but if it truly is that she is just spiting the child, that stinks x(
 
On the positive what goes around comes around. Karma's a b&*ch

When I got divorced in 89 (sorry if any of you are divorce attnys)
my ex and i did it mostly ourselves and yes we had 2 kids and a house so it is POSSIBLE. We kept the kids as our focus.

Anyhow my ex's Dad had just passed away. He was quite successful chief of radiology, 49ers radiologist. We live on the west coast and he was on west coast so I only had met him a few times in personand only knew him 6 years. My attny STRONGLY urged me to go after his inheritance for the kids. I REFUSED to. Anyhow the upside is YEARS later I'm good friends with my SIL, my ex has always been generous helping out with the kids and this would NOT be the case I'm sure if I went after the inheritance.

- Robyn

So even if she gets the money she WONT be happy with it
 
Wow! What a rag! (not the word I was really thinking of).

And yes it's true-in community property states, if you combine the asset at ALL for ANYTHING it becomes joint property. It doesn't sound like the cash was in a separate account. If it was, it MIGHT be considered sole property, but the house purchased with it is definitely joint property. I live in a comm. prop. state (WI as a matter of fact, near the Lake Geneva property mentioned) and have dealt with this with many clients unfortunately. I'm an accountant.

How sad....but this is one reason I would never get remarried until my sons are grown. At least not with a prenup.
 
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