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.