So dear BS community,
I think we have some good news. Don’t want to be overly confident but, I think it is in fact, bloody good news.
Spent all of yesterday, till late into the evening at Attorney’s office. We worked through compiling comprehensive evidence packs, dealing with all financial aspects, drafting the settlement proposal that, together with the filling papers, will be presented to her at the meeting where I inform her of my decision to D.
Firstly the best news!
It is an almost certainty that I will get principal custody. As you know, there are no guarantees in law but my attorney (I keep wanting to refer to him by name so from here on out will just call him Atr) says that if he ever needed to give a guarantee it would be on this one. Over an extended number of years, for multiple weeks a year I have shown myself to be a “competent and caring” parent, capable of caring for the children on my own. WW has no evidence of any ability in this regard. There is in fact, hard evidence of her repeatedly placing the interests of the family second to her own selfish wants and those of the AP.
Then, the fact that she moved out when we separated soon after D Day indicates that she acknowledged that the family home is my primary residence and that she accepted that if separation were to take place I would be entitled to stay on in the family home and she would need to seek alternative accommodation. (This is just further confirmation of the absolute need for a BS to make seeing an attorney straight after D Day a priority, to get advice on how to move forward, even if the objective is R. If I had been the one to move out, it would have worked against me).
It will be in the children’s best interests to be allowed to stay on in the primary family residence as it would allow their lives to continue with the least disruption. (Access to school, participation in extra mural activities and maintenance of social circle).
I am well placed to ensure long term financial stability. WW has a good job but I make 5 times more than she does.
Atr believes that my case is so strong that I would have a good chance of securing sole custody with only supervised visits if I wanted to but I don’t want that. It would increase the risk. Her attorney would almost certainly advise contesting the settlement. Also I think that it would not be in the best interests of the children.
The courts now also place a heavy reliance on the wishes of the children, but given the above, I believe I have a good idea of what their wishes will be.
Then to the almost as good news.
About two thirds of my wealth is housed in a trust. I cannot give any details but, the structure of the trust and composition of the trustees has allowed us to take action yesterday to secure these assets for myself and my children. They cannot be factored into the joint estate, so all that can be discussed in terms of settlement are the remaining assets.
There are some ironies here. After FIL died, I had to look after MIL’s estate and dealt with all of her financial matters. They were not well off and did not have a lot but it was still a nightmare dealing with the issues. Everything had been registered in FIL’s name and only he had a bank account. MIL had no access to any money, could not establish a credit record and for nearly 18 months depended solely on us.
I never wanted my beloved to be in such a vulnerable position in the event of my death so we immediately began accumulating assets in WW’s name. We created a healthy stock portfolio for her, supplemented her retirement fund through additional top up funding, opened a sizeable money trader fund in her name and over the past 3 years have bought 2 lovely Townhouse Condos in beautify garden estates, registered in her name. Last year February we bought and registered a large SUV in her name. (It was a particular challenge to get FIL’s vehicle ownership transferred into MIL’s name).
The value of the Townhouses together equate to about 75% of the value of the principal family home. One is only a few kilometres from our home and would allow WW to move there without any form of hardship. Grans place is fully stocked with furniture, relatively new appliances, linen, crockery etc. These would allow the Townhouse to be comfortably equipped.
I made it very clear to Atr that I want to get this done asap. He advised that my best approach then is to offer a blatantly fair and reasonable settlement.
The settlement proposal is then that she gets to keep the properties registered in her name. Keeps her car, which is the most valuable and newest in the family. Gets all of the furnishings, etc, from Gran’s place and can keep all investments currently in her name. I will then top up the value of the investments in her name to the point that they equate to a value of 75% of the investment in the joint estate that are in my name. While this does not equate to the 50% split contemplated in the ANC, since the advent of democracy the courts have been allowed, and have taken, a far more interpretive approach to the law, with the guiding principal being fairness. The court will recognise that the only way to arrive at an exact 50/50 split would be to effectively liquidate all assets and covert them all into cash. The value destruction of such a process would easily result in a 25% reduction in value of the assets so that WW would be no better off that with the proposed settlement, only I would be worse off. The fact that her positon would not be altered by such an action means that a deviation from the proposed settlement would not be fairer to her. It would also represent massive value destruction of the children potential future inheritance and the children’s interests are now considered as most important by the divorce courts.
Also, I will not ask for any contribution for the living expenses for the children and that alone substantially closes the gap.
The lease for the nicest Townhouse, which is also the one closest to home, expires at the end of August and so WW can move in, with everything needed from Gran’s place, as soon as those tenants move out. Another irony, we bought that Townhouse as our long term retirement plan. It is lovely, would demand less upkeep but allow us to maintain our standard of living. So now we don’t get to grow old together in it. She is just going to grow lonely in it.
As I said, everything is drafted for me to present to her during the D discussion.
Atr has given me the contact details of the 3 other best divorce attorneys in town and said that I should give them to her. I must encourage her to get references for them from anyone she wants. They will come highly recommended by anyone she asks. Might seem like a strange approach but Atr says that they have so much experience in these matters that they will instantly recognise the settlement as fair, and unlikely to be changed by a court. They have busy practices and would far rather take on cases that have a better chance of success. They will advise her to accept.
As an aside, I will not have to take on any role as her meal ticket. She has a well-paying job and has just demonstrated how easy it is for her to find another if she were ever to lose the current job.
So, it all seems sorted then. Here’s to hoping