Daytrading & Divorce.....

[nooby_mcnoob]

Sounds like you should recommend your lawyer to @David Donner. Still 60% of everything??!!! That is STEEP!!

I missed this part. Let's say you go to court and you get a judgement for 50%. How much do you think you will have spent in time and money to get there? Make no mistake about it: divorce is better for men than women (unless you're a total loser of a guy). It's worth it for you to have it over tomorrow and pay an extra $100K or whatever so you can move on with your life.

However, as always, in life don't make the first offer.

 

[qxr1011]

Hello,

Going thru a divorce.

Traded part time before getting married, went full time during marriage.

Only traded my own money & didnt work for anyone else.

That has become my sole source of income.

During a divorce, could my daytrading be considered a business in which the spouse would be entitled to a chunk of the "business"?

I only file on sched D and form 8949. I dont have it set up as a business. But would a court consider it a business?

Thanks

I have always said that a wife is a trader's weakest link.

As for the questions you are asking - imho you asking wrong people, because it never ends well when lawyers think they can be traders, and even worth when traders try to be lawyers.

 

[newwurldmn]

I am talking about half of the future profits of the "business", even though it isnt filed as a business. Could she be considered half owner of the business, therefore half the future profits of it, even after the money split?

If it was a retail business that was opened, lets say a drug store, she would be entitled to half the business including half the future profits.

Unlikely. I think there is precedence with The owner of the Children’s Fund. Where the judge ruled that the wealth in the business was earned solely by his talent and therefore wasn’t a business that should be split.

 

[nooby_mcnoob]

the Children’s Fund

Google says buddy had to pay out 380 million pounds.

 

[nooby_mcnoob]

Also, keep in mind you only have to split what you gained during the marriage. So if you started out with $500K in your trading account and it grew to $600K, you have to give her $50K if she is so inclined.

 

[zdreg]

Let me manage it for ya... her ass will be lined up at the f'n soup kitchen. She'll be sending you checks.
j/k... GL

that is the highest probability.

 

[zdreg]

how about starting by doing some legal research on your own?

 

[SimpleMeLike]

I have always said that a wife is a trader's weakest link.

qxr1011,

I strongly disagree with you. Please explain how a wife can be the trader's weakest link.

IMO, a good wife can be the man's strongest link in his trading business if both party keep it real with each other and they respect and honest to each other.

You just gotta get the right woman to satisfy you.

 

[zdreg]

qxr1011,

I strongly disagree with you. Please explain how a wife can be the trader's weakest link.

IMO, a good wife can be the man's strongest link in his trading business if both party keep it real with each other and they respect and honest to each other.

You just gotta get the right woman to satisfy you.

they use to say there is gold in the streets in America. you, however, are talking about diamonds.

 

[nooby_mcnoob]

qxr1011,

I strongly disagree with you. Please explain how a wife can be the trader's weakest link.

IMO, a good wife can be the man's strongest link in his trading business if both party keep it real with each other and they respect and honest to each other.

You just gotta get the right woman to satisfy you.

Marriage, for a high earning man, is the sword of Damocles hanging over his head. His wife can be upset with him one day and destroy everything he has worked for.