This is not true. She commingled her inheritance by paying for the houses with it. That would have been 50/50 in most states. Only the parts of the trusts that came to her later and stayed separate are protected under state law. She would have been financially wiser to put the houses in a trust that details what percent he would put into the house and what percent he would get out, while maintaining the houses in the trust for the kids or to have some kind of separate pre-nuptial contract about the houses and any equity from them. |
In theory the bold is nice, but in practice we do not have the societal structure for it. No affordable child care. Inadequate medical insurance. Very little mandated child support. Workplaces that still won't hire women with kids or will fire them quickly. (I was actually asked in a BigLaw interview about my "available hours" as a subtle way of trying to get at whether I, as an older law student, had family obligations. Comparing notes afterward, none of the men were asked the same.) And, as Burden's book makes the point -- men who are willing and able to simply walk away from their responsibilities. |
What's the name of the L Durell novel, please? |
Sure it can be better, but Americans have some of the highest disposable income rates in the world. This is mostly an excuse women make to not work. There are millions of American women with kids who go to work daily. Women in other countries receive these benefits because it’s incredibly expensive and they don’t receive healthcare and retirement if they don’t work. Their structure mandates a dual income household. To be unemployed for decades is a choice. It’s not a smart one. |
There’s a lot of space between big law and no job. I don’t understand why type A women do this. They can’t succeed at the most stressful, demanding job so they decide….they won’t work at all? The |
You seem very invested. I doubt that you would be posting a multiparagraph reaction if a SAHM received 50/50 from the proceeds of the sale of the family home while investing $0 of her foo’s funds or her own earnings. |
You’re missing my point. She was the one demanding a prenup; he didn’t want one. But she would have been better off with no prenup. Because the bulk of her assets (those in trusts) were largely protected anyway from being considered marital property (until she commingled some of them), except to some degree in Massachusetts and Connecticut. And with no prenup and her long marriage, she would have gotten 50% of the marital estate, which would have included all “his” assets. The prenup that he was asked to sign basically said “what’s mine is mine and what’s yours is ours.” It was a sort of a belt-and-suspenders document to supplement the protection afforded by the trust arrangements. In the case of a divorce, assuming correctly that she would become a SAHM, she could emerge from a long marriage with 10X-20X-30X as much as he. So he demanded that the prenup be changed to a “What’s mine is mine and what’s yours is yours” document. |
+100000 It’s perfectly fair that he wanted his earnings to stay separate given she was keeping her money/income separate! Who in their right mind would fork over 50% of their earnings to someone when they are keeping 100% of theirs and worth tens of millions of dollars? A lot of her book is projecting. She used him for image and to support a lavish lifestyle where she went from club to club and send kids to boarding schools. Here’s a guy who earned his own money! He didn’t bring significant wealth into the marriage and earned it through hard work. She had the audacity to suggest he used her, when here she is having lived off him for decades and collecting income from family money. Belle has been handed everything in life including admittance to Harvard and she is being told NO for the first time in her life. The worst is her suggestion her trusts paid for both properties almost entirely. Now we find out they had sizable (large!) mortgages on these properties he paid for over two decades. Of course he was going to at some point suggest he walk away with a stake in those! In what world would someone pay towards two properties for two decades and then walk away with $0? I can see right through Belle. Live by the sword, die by the sword. |
It's weird how people keep insisting he paid the mortgages when she was pretty clear that they split expenses 50/50. So "they" paid the mortgage. And, she did NOT "live off him for decades" since they split expenses 50/50. She paid the entirety of the sizable down payments on their two homes and split all other expenses 50/50. Her family paid the kid's school tuition and college savings. He worked for her uncle until 2016. There is no way to look at this as "she lived off him". I find this whole thread a wild example of how people justify why a man's money is his and a woman's money (and time) is also his. It's a cultural relic of the not so distant past when legally speaking a woman's money and time were her husband's. |
I'm not missing your point. You are mis-stating how the law does and doesn't protect trust money and inheritance. If you have a trust or an inheritance and you keep it separate, then most states will protect it. BUT, if you take your trust money and buy a house with it and your spouse contributes any money at all to it (mortgage, expenses, time toward upkeep, etc.) then the law considers it "commingled" and it becomes part of the marital estate subject to a 50/50 split in a divorce no matter how little the other spouse contributed toward it. Similarly, if you have an inheritance and you regularly take money from the inheritance and spend it on family bills then the trust can be broken and the spouse can demand future earnings from it, because the assets are being used as "income" and the other spouse may have a claim to that income in divorce. He likely didn't want a trust in the beginning because, for him, it was better to be able to gamble that he could break the trust later on. That's why she did a prenup - because, in fact, her trust assets would be used for the marital situation - both as income stream and down payment - and thus would be unprotected without a prenup. There is no lawyer on this planet who would tell Belle Burden "you're better off without a trust". |