Any Divorce/Family Lawyers out there? Ex wants to see business financials...

[Curious36]

As title says ex-wife has had a lawyer sending me letter basically demanding to see my T4's for past 5 years. Also demanding to see business financials for same time period. In separation agreement states that T4's to be viewed upon request, and i have no issues with presenting this info as requested. I do have a problem with her feminist lawyer poking her nose in my business financials. Question - since it only states in sep agreement that she is privy to my T4's is there a legal requirement for me to provide business financials? I know lawyers can request anything but am I legally obligated to oblige? I know what some will say and yes will get a lawyer very soon but what r your thoughts on this? Anyone go through a similiar situation and how did it end up.

Thanks

 

[Petzel]

It's rather common and is not out of the ordinary.

 

[nobody123]

I do have a problem with her feminist lawyer poking her nose in my business financials.

OF course you do. Because you've been burying shit in the business while filing T4s that make you look a right poor fellow indeed. And now the EVIL feminist might just ruin it all for you. How unfair! How... How.. feminist! That is, if your definition of "feminist" means "ball busting bitch that is trying to shine light on my deceptiveness". The nerve!

 

[mandrill]

You don't have to do anything until the feminist lawyer takes you in front of the judge. Then the judge will make you show the business financials and pay half - or perhaps all - of the feminist lawyer's huge bill to your wife.

If you own a company, the business statements are fair game.

 

[FAST]

Ignorance is not a defence

If you wife has ANY interests in the/your business, shares, a postion, etc,…she is just as guilty as you are for ANY creative accounting.

FAST

 

[Stoo]

If you own a company, the business statements are fair game.

Especially if you acquired the shares after you were married... If so, she will be entitled to half of the VALUE of the shares. If you owned the shares before you got married, then the lawyer wants to confirm that your T4s accurately reflect your income and net worth. I'm surprised she hasn't demanded T5s as well.

She will be looking for things like company cars and the expenses associated with them and that sort of thing.

Let the judge decide, but odds are, you'll be giving them up.

 

[mandrill]

She will be looking for things like company cars and the expenses associated with them and that sort of thing.

Yup. Most businessmen deduct cars, meals and anything else they can come up with.

Come to think of it, can anyone here think of any self-employed businessman who DOESN'T artificially reduce his income??!!

 

[Curious36]

OF course you do. Because you've been burying shit in the business while filing T4s that make you look a right poor fellow indeed. And now the EVIL feminist might just ruin it all for you. How unfair! How... How.. feminist! That is, if your definition of "feminist" means "ball busting bitch that is trying to shine light on my deceptiveness". The nerve!

You angry bro?

 

[Curious36]

You don't have to do anything until the feminist lawyer takes you in front of the judge. Then the judge will make you show the business financials and pay half - or perhaps all - of the feminist lawyer's huge bill to your wife.

If you own a company, the business statements are fair game.

Thanks Oagre your reply holds weight based on your past advice given fellow terbites.

 

[Curious36]

Especially if you acquired the shares after you were married... If so, she will be entitled to half of the VALUE of the shares. If you owned the shares before you got married, then the lawyer wants to confirm that your T4s accurately reflect your income and net worth. I'm surprised she hasn't demanded T5s as well.

She will be looking for things like company cars and the expenses associated with them and that sort of thing.



Let the judge decide, but odds are, you'll be giving them up.

Business was aquired after divorce. Corporation of which I am the sole share holder. Thought I could keep her greedy paws out of my business. Guess I cant. Before anyone feels sorry for the ex wife, she makes over $200K/yr, took the majority of the assets from the marriage, and doesnt like to pay for anything. She considers her money to be spending money for salons, spas, vacations (but she tried to get me to pay for last one with her bf) etc. My money on the other hand she feels is hers and should be used to pay for her fixed expenses (so she can keep her paycheck for fun stuff) and she keeps asking for more and more. I have been generous in the past but guess the wheels started turning in her head recently and she figures she can get more if she can get her hands on the financials. I have to be resourceful on this one....hahahaha Thanks for the advice guys.

 

[Curious36]

Yup. Most businessmen deduct cars, meals and anything else they can come up with.

Come to think of it, can anyone here think of any self-employed businessman who DOESN'T artificially reduce his income??!!

Of course. Its legal and who wants to leave any money on the table.....

 

[HEYHEY]

Take a shit in a box and fedex it to her.

 

[fmahovalich]

The business being acquired after the divorce does add a twist.

Hard to argue salons etc etc...that was occurring while married too.

I knew a guy once with a business, who wrote off 35,000 a year in 'salary' paid to the wife. The money never left the business, but he showed it as salary.

Once he leaves her, he then tries to claim she had 'income', based on this false payroll number....and it was hard for her to fight it given CRA implications.

these things get messy...but quite honestly.....basic arithmetic would sort out most problems.

 

[mandrill]

The business being acquired after the divorce does add a twist.

Hard to argue salons etc etc...that was occurring while married too.

I knew a guy once with a business, who wrote off 35,000 a year in 'salary' paid to the wife. The money never left the business, but he showed it as salary.

Once he leaves her, he then tries to claim she had 'income', based on this false payroll number....and it was hard for her to fight it given CRA implications.

these things get messy...but quite honestly.....basic arithmetic would sort out most problems.

Shit! That's standard. I just tell the woman to state the truth to the judge. The judge won't involve Rev Can and the husband sure as fuck won't either.

If a divorce court judge sees that the wife is being paid $35,000 as a "consultant" while she stays home with the kids and does the dishes, he shits himself laughing and just figures the guy is a liar and behaves accordingly.

 

[I'm not here]

why does he have to show the ex wife anything if the business was acquired after the divorce?

 

[TeasePlease]

why does he have to show the ex wife anything if the business was acquired after the divorce?

If she's making an application to vary support payments, perhaps?

 

[nobody123]

You angry bro?

Said the man who hurls "feminist" as if it were a relevant and/or meaningful insult? Naw. I'm downright chill, bra. But ask me again if and when my no-doubt shitty divorce starts happening and I'll rage right along with you.

 

[rgkv]

I was ordered to pay spousal support and have been doing so for 9 years now. My biggest mistake was not having the lawyer ask for some sort of ending to the payments, something I never thought about until he came from the meeting with her lawyer and told me what the deal was, I asked how long, he told me come back in 10 years and try to have it stopped then...
As far as I'm concerned support payment amounts are never a closed case, always open to both increases and decreases in income...
Must admit I am reluctant to go back in front of a judge as my income has tripled [surprisingly since the year after the separation] and am worried he would increase my payments.

 

[toguy5252]

In the absence of a Marriage Contract or Cohabitation Agreement your wife will have a right to equalization. Even if an asset is exempt or excluded you are still required to value it. In order to properly value a business asset an accountant or forensic accountant would have to examine the books and records of the business. you can fight all you like to prevent the disclosure but in the end you will lose because your wife is entitled to the information. The cost of the losing battle will be very expensive as you will pay your lawyer and hers. Your lawyer should give you the same advice.

 

[jimmylikes]

My mother keeps asking me why Im not married.....I should show her this thread :frusty: