During a divorce is it better to go for property or cash?
There is a lot of property including 2 shopping centers. There is not a lot of cash flow, but several houses and pieces of property and a realestate business. H e is fighting me tooth and nail. He is the one who cheated on me. I am 62 years old and I feel I need to look out for my future. Any suggestions out there?
take him for EVERYTHING he owns!!!!! Cheating bastard!!!
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November 30th, 2009 at 1:31 pm
half of each – you’ll need somewhere to live, but owning a property doesn’t generate money, so if you can i’d get some of the viable business options and a property or two – money and a house
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November 30th, 2009 at 2:09 pm
If you don’t mind being linked to the economic cycle of the property (like real estate – it’s a slow market now), then go for property.
If you want to be able to invest in any market that supports your goals and desires, go for the cash.
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November 30th, 2009 at 2:55 pm
go for what will piss him off more……………..that is what i did
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November 30th, 2009 at 3:00 pm
take him for EVERYTHING he owns!!!!! Cheating bastard!!!
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November 30th, 2009 at 3:50 pm
Take copies of your records to a CPA.
Have them explain the tax issues when the properties are sold.
Invariably in a divorce, someone will suggest that you take the property worth $500,000 and they’ll take the cash for $450,000 and try to make it sound like a win-win situation.
The problem is, the cash is already post-tax and when the property is sold, the capital gains needs to be paid. That property that’s worth $500,000 may have a built in gain of $400,000 and after tax may only clear $300-$400,000.
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