Full question:
I have a Thoroughbred race horse farm (my name only). Husband and I are in Ch 13 Bankruptcy. The court disallowed CH 12 because my husband is an ER physician and makes $200K year. The horses were a tax break, not a money maker. (30K loss for our joint taxes last year) I filed a Protection from abuse Nov. 6. He filed for divorce. He wants half of the horses as marital property which I am fine with,(He could have them all right now) but it is winter and I can't sell the horses now. What is the most expedient way to get half the board fees in the meantime? He is stalling, waiting for a better price in the spring. Can I get back board fees on his half of the horses if I keep them till spring? Or should I just sell them at a huge loss and just move on. My lawyer says he is entitled to half the farm and horses and has to approve the sale cost of them. I say he should pay half the costs then. Can I send them to a rescue?
- Category: Divorce
- Date:
- State: Pennsylvania
Answer:
First and most important thing to do is to calm down and realize that you are not the only one that has to face things like this. Keeping your cool can make the difference in making the proper decision of when and how to act and what to finally agree to. Your matter could be complicated by the fact that you and your Husband are in bankruptcy and we cannot determine how it may be involved in resolution of the farm, horses, etc. That needs to be discussed with your bankruptcy and divorce attorneys. Regarding the farm and horses, you should consult with your local attorney about what your Husband is entitled to and don't act based on emotion. There should be a clear answer about all of the assets, debts, etc and your attorney should know the answer. The board fees are unclear. We assume you mean the cost of maintaining the horses and that you want him to pay one-half. This is an issue that the Court could address if the matter goes to Court or you can address it in your agreement. If you settle with your Husband it can be addressed in the settlement agreement. Final suggestion is to sit down with your local attorney and ask what will happen if you go to court regarding everything and use that to determine what to agree to in terms of a settlement. Cool down and slow down. It will help you get more of what you want in the end.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.