Advice on Divorce

[Captain Fastbastard Mayhem]

Interesting... I won't think so. I have heard of people selling cars for very cheap so that the wife get's nothing.

CAVEAT - depends on the way they were married and a coouple other things, but IMO lawyer time. 

 

Problem is that that still gives an injection of cash into the shared estate. If he spends it, the stuff he spends it on will be part of the shared estate. If he just blows it, then it's not. So you don't really achieve anything other than spite, in those situations.

 

If he's transferred the company shareholding back to his dad specifically to avoid it being a part of the accrual process, he's in for a bit of a shock. I'd say that she has a good basis for arguing its inclusion. If he sold the business back to his father (which is what's actually happened) then the amount he'd sold it for would form part of the estate. If he sold it for a pittance, that's also an issue that could get him into a bit of trouble from a tax perspective. Even if he set up a loan account for the same value as his share, that would form part of the estate. 

 

https://www.divorcelaws.co.za/hiding-assets-divorce.html

Edited May 14, 2020 by Captain Fastbastard Mayhem

[Captain Fastbastard Mayhem]

https://www.iol.co.za/personal-finance/things-to-consider-when-selling-your-assets-to-a-trust-24839164

 

Market value

Selling your assets to a trust at less than market value in an attempt to minimise the loan amount is not a good idea, as it will have the following unintended consequences:

* You will be liable for donations tax on the difference between the market value and the sale price of the asset.

* Any income apportioned to this difference will be taxed in your hands until the day you die, in terms of the anti-avoidance provisions of section 7(9) of the Income Tax Act.

If any “connected person” sells assets to a trust at less than market value, from a tax perspective, the transaction would be deemed to take place at market value and the actual values at which the assets were sold can be substituted by Sars with market values (paragraph 38 of the Eighth Schedule to the Income Tax Act).

[Harryn]

I have a question.

 

A couple is going through a divorce.

The man owns 1/3 of a lodge his father had put on his name.

Right before the divorce the man changes the ownership back to his father.

 

*Does the wife still get half of the 1/3 the man previously owned

 

I'm just asking for a friend.

Yeah, if the wife has an effective lawyer.

[mazambaan]

I've adopted a bit of a new mantra recently. I can't do anything about what's happened in the past, but I can control what I do in the future. 

 

That, in addition to "people are stupid" and "don't be a dick". Sometimes it's difficult to balance those last 2, though... 

 

Oh - and dishonesty. I cannot abide by it. 

 

Good inspiration, between you and Dale; positive stuff. Tiny note, act now, you always (should) have that control (copied from Dale), the future is not guaranteed controllable.

[GrahamS2]

Yeah, if the wife has an effective lawyer.

This. The discovery process can go back in time quite some way.

[Patensie]

Was the 1/3 portion a gift from his father? If I remember correctly, the Huweliksgoedere Act specifically exclude gifts from accrual.

 

(Sorry, I studied family law in Afrikaans way back in 1996 and is too lazy to google the proper name of the act. I argued this on stuff I got from my parents: they were gifts to me and the (h)eks may not share therein. My attorney went with it and the ex's attorney didn't put up a fight.)

[Harryn]

Was the 1/3 portion a gift from his father? If I remember correctly, the Huweliksgoedere Act specifically exclude gifts from accrual.

 

(Sorry, I studied family law in Afrikaans way back in 1996 and is too lazy to google the proper name of the act. I argued this on stuff I got from my parents: they were gifts to me and the (h)eks may not share therein. My attorney went with it and the ex's attorney didn't put up a fight.)

Yes. You were obviously a good student, and you have a good memory. You are talking about section 5(1) of the Matrimonial Property Act, which excludes donations, inheritances and legacies, subject to what the ANC states, and subject to the donor’s stipulations.

 

But, in truth, we don’t yet know whether we are dealing with the division of an accrual, or a marriage in community, or whether the donation was pre or post nuptial. So we cant answer the question. But get your law school notes out in case I ever need more help [emoji23]

[Patensie]

But, in truth, we don’t yet know whether we are dealing with the division of an accrual, or a marriage in community, or whether the donation was pre or post nuptial. So we cant answer the question. But get your law school notes out in case I ever need more help [emoji23]

Agreed. I was really hesitant to give any answer to this question as we lack all the detail. GrassMuncher's buddy should get an attorney.

[Grass Muncher]

Was the 1/3 portion a gift from his father? If I remember correctly, the Huweliksgoedere Act specifically exclude gifts from accrual.

 

(Sorry, I studied family law in Afrikaans way back in 1996 and is too lazy to google the proper name of the act. I argued this on stuff I got from my parents: they were gifts to me and the (h)eks may not share therein. My attorney went with it and the ex's attorney didn't put up a fight.)

I don't have a lot of detail unfortunately.

The son never paid his father for the 1/3 of the lodge.There are 3 sons and each son got 1/3.

I know that the dad is skelm and played bankrupt and had to turn the lodges name over to the 3 sons to avoid losing the lodge.

 

The son did get the 1/3 while he was still married if that means anything.

 

When the dad gave the lodge to the sons he put it into a 'CC'

(I don't know what that means)

[Grass Muncher]

Grass munchers buddy's attorney is **** and can't give him the answers he needs and can't even get a court date. He is trying to get a new one.

[Amberdrake]

Lawyers and courts are a mess atm.

Courts do what they like and lawyers don't know x from z atm.

Restraining order was granted the other day yay me, now if ex does certain things and I have proof, Ill be able to have her arrested. In said situation she would possibly loose her job(she might just with restraining order), in such a event I get to potentially pay her maintenance in addition to kid maintenance.

 

Life seems just about 20% #$#$^, at this moment. Mentally I have Psychologist, he is impressed at the amount of stable I am mentally. I have been struggling to focus on work, Very very very badly struggling.

 

I have managed to somehow damage my left leg, I get insane pain in some positions, fortunately physio has given me some exercises and its improving and much less problematic, however its put huge strain on my getting back to proper training. I can only ride trainer seriously atm, I am not allowed to walk/jog till both legs even again, and then I have been instructed to do walk/run at that point. Ill also be allowed off my cycle trainer then. I can tell you this first time in my life doing silly little leg moves hurts like someone stabbed me, worst part is that its getting better and the pain is from the leg being used.

 

Anyways im just ranting to the group a bit, Grass Muncher your friends lawyer might be bad or courts just issue. It's a mess out there atm it seems.

 

Good news friend got to have his kids over this weekend and he hasn't seen them for longest time(lockdown frontline worker with bad ex). This situation was getting towards forcing seeing kids and that was very emotionally draining on me as I had been here and didn't want him there.

Hoping we all have better mental states and can give good feedback in future.

 

Also shout out to the Captain Fastbastard Mayhem really helped me out and is a great guy all round!

[Slowbee]

Glad you are ok Amber !

 

Pleased that someone was able to help you.

[Patensie]

My ex moved out today. The kids will rotate weekly (starting here by me) and we need to make this work in their best interest. Its going to be interesting juggling work, a grade 2 and grade R until the schools open by hopefully September 2042. 

 

The first day went OK.

[Amberdrake]

My ex moved out today. The kids will rotate weekly (starting here by me) and we need to make this work in their best interest. Its going to be interesting juggling work, a grade 2 and grade R until the schools open by hopefully September 2042. 

 

The first day went OK.

This sounds like an epic day! at same time I can already immagine the pain this change will bring for me on this day. So be strong we are all here with you and it will get better. Friend has this thing she keeps saying "Just keep swimming" (yes its from finding nemo). It helps tomorrow is a new day keep going and life changes and sometimes its for better and some worse.

[Gen]

My ex moved out today. The kids will rotate weekly (starting here by me) and we need to make this work in their best interest. Its going to be interesting juggling work, a grade 2 and grade R until the schools open by hopefully September 2042.

 

The first day went OK.

Chin up and take it one day at a time

 

It is possible to work together for the kids.. my son's one friend's parents are divorced. They work so well together for their kids I didn't even know they were divorced until about 2 years into the boy's friendship.

[Patensie]

Chin up and take it one day at a time

 

It is possible to work together for the kids.. my son's one friend's parents are divorced. They work so well together for their kids I didn't even know they were divorced until about 2 years into the boy's friendship.

Thanks for all the hub-support!

 

In that sense the lock-down and having to live together after the divorce was settled help. All of a sudden there was nothing to "fight" for and to prove to the other. All focus moved towards the kids. Hopefully we can keep this up.

 

The kids recon its boring at my place compared to their mom's new place... that will too wear off :-)