current

Chapter 23 - The house and the company

Divorce mediation.

House:

Current appraisal $736,000.

Mortgage $344,000.

Estimated net equity after sale costs:

About $350,000.

Could I refinance and keep?

Yes.

Barely.

Did I want to?

The kitchen made me nauseous.

But Sophie loved school.

Owen loved backyard.

Moving immediately would add disruption.

I decided to keep it for now.

Refinance:

Mortgage plus equity buyout.

Then company.

Neutral value for Lucas’s 80% interest:

$608,000.

Eric retained 20%.

Lucas kept company.

I received offset.

Then affair/dissipation credits.

Clearly personal:

$13,860.

Business personal-benefit amount:

Negotiated $18,000 credit rather than litigating every ambiguous consulting invoice.

Total property credit to me:

$31,860.

No claim for all $91,600.

Because much was actual work.

Then retirement equalization.

Joint savings.

My temporary $58,000 transfer had been reversed; no lasting penalty beyond embarrassment.

Settlement structure:

I kept house subject refinance.

Lucas kept company.

I received retirement transfer and a cash equalization payment from Lucas over 120 days, secured by company note? Better avoid forcing company. He had liquidity from brokerage and refinance of business distribution. Payment:

$146,000 total equalization through brokerage transfer plus installment secured by agreed lien on his personal investment account, not operating company.

No spousal support after considering incomes.

My salary:

$118,000.

Lucas normalized income:

Around $162,000.

Child support guideline based on final parenting schedule.

May you like

No punitive company destruction.

Employees unaffected.

Related Stories

Other posts