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Anyone a divorce or family lawyer?

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    #16
    ^ correct - selling assets below market value with a pending divorce will result in a legal nightmare for your dad if your mom's attorney is even halfway decent.

    There are some great threads on reddit covering very similar issues. I believe the sub-reddit is r/legaladvice


    Current Car: 2011 BMW 135i, M-Sport, 6 speed

    Originally posted by lambo
    Sounds like you need a massage.
    Originally posted by kpeng
    Who the hell is Vlad?

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      #17
      There is a way to divorce proof this, but its going to cause resale issues...... But it will keep the property from being sold or having to cash out if done correctly

      Hes going to have put those assets into a trust for you and your siblings (if you have any)..



      Originally posted by MR E30 325is View Post
      That tactic, albeit a clever one, also does not work.

      You'll also be on the hook to pay a federal gift tax to Uncle Sam for the difference of the fair market value of the home and the price paid (1 dollar).

      YES you are correct, I forgot the Ol gift tax anything over 14k IIRC and given where this chunk of ground is located that tax bill will be hefty as it worth way more than 14,001
      Originally posted by Fusion
      If a car is the epitome of freedom, than an electric car is house arrest with your wife titty fucking your next door neighbor.
      The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money. -Alexis de Tocqueville


      The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken

      Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
      William Pitt-

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        #18
        So the reason for not buying the property is I can't afford it, hence the conversion of garage into home instead of paying for a rent or a mortgage I can't afford. I put money into the conversion and they would get the increase in property values, Plus my part of the bill obv.

        I talked to him about a trust and he is looking into it but he is hoping to keep it lawyer free because he knows my mom can't afford one and he barely can. It's just an all around annoying situation lol



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