Settlement Issue

[kingfisher]

What is the name of your state? Alaska

At my divorce trial, the judge awarded several investment accounts to my ex wife, and discussed his decision to settle all property on a 50:50 basis. The judge was acting on the latest information he had been provided but the documents were dated and so the current balances were not up to date. In his award, he said that the accounts would be hers and then at the end of his findings, he specified the specific dollar amount that was in the accounts to reflect the 50:50 split.

In reviewing the accounts immediatly following his ruling, I found that the accounts given to my ex had significantly increased in value over the preceeding 6 - 8 months since the balances had been provided to the judge. It is my feeling that the balances, over the amount in the accounts over that which was ruled on by the judge should be distributed 50:50 as well but my ex wife's attorney says that the accounts are hers regardless of the balances. My attorney says that the court will not look at this again - if I don't turn over the entire accounts, regardless of balance, I will also have to pay my ex wife's attorney fees???

What do I do to get my "fair share" (50:50) of the balances in the accounts???

 

[LdiJ]

What is the name of your state? Alaska

At my divorce trial, the judge awarded several investment accounts to my ex wife, and discussed his decision to settle all property on a 50:50 basis. The judge was acting on the latest information he had been provided but the documents were dated and so the current balances were not up to date. In his award, he said that the accounts would be hers and then at the end of his findings, he specified the specific dollar amount that was in the accounts to reflect the 50:50 split.

In reviewing the accounts immediatly following his ruling, I found that the accounts given to my ex had significantly increased in value over the preceeding 6 - 8 months since the balances had been provided to the judge. It is my feeling that the balances, over the amount in the accounts over that which was ruled on by the judge should be distributed 50:50 as well but my ex wife's attorney says that the accounts are hers regardless of the balances. My attorney says that the court will not look at this again - if I don't turn over the entire accounts, regardless of balance, I will also have to pay my ex wife's attorney fees???

What do I do to get my "fair share" (50:50) of the balances in the accounts???

You should listen to your attorney and turn over the accounts as ordered. You probably recieved assets that increased in value over that 6-8 month period too.

 

[kingfisher]

Thanks for the response - but - I did not receive any assets that had appreciated. The only other assets that had appreciated were the 401ks which were brought up to date as of the date of the divorce and a cabin which was appraised by a qualified appraiser. I hear what you are saying and would normally follow my attirney's suggestion since that is what he was paid for - but - it doesn't seem fair since no one loses money on this deal but me (my ex makes more and the attorney's and judge still get paid - regardless).

 

[LdiJ]

Thanks for the response - but - I did not receive any assets that had appreciated. The only other assets that had appreciated were the 401ks which were brought up to date as of the date of the divorce and a cabin which was appraised by a qualified appraiser. I hear what you are saying and would normally follow my attirney's suggestion since that is what he was paid for - but - it doesn't seem fair since no one loses money on this deal but me (my ex makes more and the attorney's and judge still get paid - regardless).

Ok....the the ultimate decision should be based on whether or not your potential financial gains will be worth the legal fees you will spend to pursue the issue.

You also have to realize that if you open it back up then appraisals on "real property" (capital assets...real estate, hard assets) are back on the drawing board.

Nine times out of ten...if your attorney tells you to leave it alone then you are better off leaving it alone....you might have gotten a "low ball" on a capital asset..if you start it over...EVERYTHING starts over.

 

[kingfisher]

Thanks - I appreciate the common sense approach. Guess I now understand the meaning of "safe sex" a lot better than I did before...