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My wife and I divorced 3 years ago and all assets were divided equally. One of the assets she was assigned was a fund
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through her work which was on her declaration having a value of $250,000. I did not know details about this account but as it turns out either she misstated it or her attorney misread it when it was really valued at only $25,000. Net result is she now has fallen short over $225,000. This error was discovered about 1 year ago and her attorney is trying to get the decree modified to get me to cover 1/2 of this error. I have since remarried and my attorney advises me that while she may have a case, her case is diminished if I combine my assets with my new spouse as it is unlikely the judge will permit going after combined assets with my new spouse. I am hesitant to do this, but if it could save me that much money I probably will. Can anyone please comment if this is true?
You really need to discuss your question with your current attorney. Whether or not you have the ability to pay for one half of this mistake generally will not impact in any way whatsoever whether or not you are found to be actually liable for one half of this mistake. There may be legal defenses which your attorney will raise (such as was this action brought in a timely manner?) which will determine your ultimate liability. Perhaps, your attorney is referring to your ex-wife's ability to eventually collect on a judgment against you if you are found liable for one half of this mistake. Perhaps, your attorney is saying that property held jointly with your new wife may be harder to reach to pay a judgment. You must be aware however that any transfers you make while this case is pending will be eyed with suspicion and, if found to be a fraudulent transfer, will be undone. Moreover, a divorce court is a court of equity with a lot of discretion which could be exercised against you if the court believes you are acting less than forthright. You really must discuss your question with your current attorney in more detail and find out exactly what he meant.
