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HSM shops and divorces....

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  • HSM shops and divorces....

    I would like to hear a discussion of what has happened to the shops of HSMers when a divorce occurs.

    From what I have seen, it is not good with the contents of the shop that has taken years to accumulate usually being auctioned off.

    Is this the norm or am I just seeing one side of the results?

    Your thoughts?

    Thanks for anything you might want to contribute.

    TMT

  • #2
    I have no experience (hopefully never will) but yeah, sometimes the thought runs through a guys head. Just supposing... I'm gonna say
    usually you would think this kinda eventuality is seen comming well in advance. If that be the case, I would start quietly dis-assembling, relocating, evacuating a little at a time beginning with the big$ or prized stuff. Pc or two every day on the way out to work. where? I dunno but anywhere out of reach of the opposition. She knows you have "stuff" but not exactly what. Most Lawyers and wives know jack chit about machines and tooling. They may however know you hold it dear and try to use it as leverage.

    Reminds me of when you see viable small family businesses closed cause the wife demands half and forces sale of the co assets. Talk about killing the goose that lays the gonden eggs. The shrewd ones get judgements to collect the profits and let the stiff keep it running.

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    • #3
      Shape-charges, thermite, and large quantities of hydrofluoric acid and mercury to saturate the ground with.

      Shuuuuuure hunny, you can have the shop... lemme make a phone call real quick. *inputs final code*

      This product has been determined by the state of California to cause permanent irreversible death. This statement may or may not be recognized as valid by all states.
      Heirs of an old war/that's what we've become Inheriting troubles I'm mentally numb
      Plastic Operators Dot Com

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      • #4
        Originally posted by Cheeseking
        I have no experience (hopefully never will) but yeah, sometimes the thought runs through a guys head. Just supposing... I'm gonna say
        usually you would think this kinda eventuality is seen comming well in advance. If that be the case, I would start quietly dis-assembling, relocating, evacuating a little at a time beginning with the big$ or prized stuff. Pc or two every day on the way out to work. where? I dunno but anywhere out of reach of the opposition. She knows you have "stuff" but not exactly what. Most Lawyers and wives know jack chit about machines and tooling. They may however know you hold it dear and try to use it as leverage.

        Reminds me of when you see viable small family businesses closed cause the wife demands half and forces sale of the co assets. Talk about killing the goose that lays the gonden eggs. The shrewd ones get judgements to collect the profits and let the stiff keep it running.
        I too have seen a number of small businesses liquidated because of divorce.

        I was told that over 60% of marriages end in divorce. If so, it would seem to be a major threat to a HSM shop's existence.

        TMT

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        • #5
          Lease your machine tools. If you see a divorce in your future you sell all the contents of your shop to a leaseback company and lease your tools from them. The proceeds of the sale covers the repayment of the principle, all you pay is the lease charges on the agreed value of the equipment. This can be lowballed to minimized the leasing charges while protecting your equipment from seizure. This is very hard to get around in court since you no longer own the equipment even if you have the right to terminate the lease at any time with an agreed buyback clause.

          This especially makes sense if you make money with the equipment as the lease charges are an operating expense and fully deductible. It's also a good way to bring expensive new items into the shop without exposing them to a settlement.
          Free software for calculating bolt circles and similar: Click Here

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          • #6
            well when i got married the first time .[the one that did not take] i did not put her name on my car,truck or motorcycle. when i saw the trouble comming i signed a leasse on my tools and machinery with my father.

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            • #7
              Here it's called the "12 x 12" program-twelve miles offshore and 1200 feet down
              I just need one more tool,just one!

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              • #8
                Originally posted by Evan
                Lease your machine tools. If you see a divorce in your future you sell all the contents of your shop to a leaseback company and lease your tools from them.
                This doesn't work in a two-paycheck situation where the cost of the lease is shared but the work is not. One party in such a situation loses everything he or she has invested, while the other retains the business that investment provisioned.

                Say the missus is a teacher and puts the bulk of her income into the home shop in the way of leases and credit guarantees. The divorce comes, the leased equipment is returned, the home shop business folds, and there is nothing to liquidate.

                He is left with the customer base and the skills needed to restart and she is left with a bitter heart and a cabana boy in Cancun.

                It isn't a good investment move for both parties. I don't think there is one, though.

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                • #9
                  I've been divorced for dunno how many years,mostly my fault,a little hers. I've remarried since,but the lesson I learned there is that the reason divorce costs so much is 'cause its worth it . If this round goes south,as long as I've got a pulse I can start over,so I dont really worry over it. Cut the deck,I'll play either half.

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                  • #10
                    Originally posted by Too_Many_Tools

                    I was told that over 60% of marriages end in divorce. If so, it would seem to be a major threat to a HSM shop's existence.

                    TMT
                    One could look at it another way as well:

                    HSM shops can be a major threat to a marriage's existence.

                    Too many of us lose sight of that fundamental fact, please invest some of your time in the relationship, wifes are not low maintenance!

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                    • #11
                      I always tell my wife:

                      If I die, what is in the garage is worth some money, but if we get divorced, it's really just all junk.

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                      • #12
                        Divorces are well over 50%. o if you do go for it get a good lawyer and get a good pre-nup. It will cost you but it may save you in the end.

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                        • #13
                          It isn't a good investment move for both parties. I don't think there is one, though.
                          My advice isn't intended to be a good investment move for both parties. The other way to save your shop is to buy the 50% from your wife. Depending on what machinery you have that may not be very costly. Market value for used machine tools is very low most places. I picked up several $1000 worth of tools and equipment here a few years ago for about 10% of replacement cost.
                          Free software for calculating bolt circles and similar: Click Here

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                          • #14
                            Originally posted by gda
                            I always tell my wife:

                            If I die, what is in the garage is worth some money, but if we get divorced, it's really just all junk.

                            My understanding was always "Once married, whats mine is hers and whats hers I dont want". You give it all up when you get hitched.

                            I have been told that the only way out is to have everything you want before the marriage and dont get tied up unless you have a signed pre-nuptial agreement. I have also been told that anything gained after your hitched is fair game no matter what, even with a pre-nup. But that could be totally false.

                            Best to just not get a divorce, which may mean that you rent for the rest of your life.


                            rock~
                            Civil engineers build targets, Mechanical engineers build weapons.

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                            • #15
                              Originally posted by Too_Many_Tools
                              I would like to hear a discussion of what has happened to the shops of HSMers when a divorce occurs.

                              From what I have seen, it is not good with the contents of the shop that has taken years to accumulate usually being auctioned off.

                              Is this the norm or am I just seeing one side of the results?

                              Your thoughts?

                              Thanks for anything you might want to contribute.

                              TMT
                              Anyone care to discuss what happened to their shop in relation to a divorce?

                              Comment

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