OK there is the famous law exam question! question 2 In a little town outside of New Orleans, Dianne had decided to break one of her cardinal rules: Never date a coworker. She had been badgered by Greg for months to go on a date and had refused time and time again, thinking he was arrogant and obnoxious. However, as the months had gone by, she realized that they did, in fact, have quite a bit in common. After agreeing to the date, Diane’ boss became jealous and enraged, firing them both within the next month. In search of new jobs, they both found themselves in Arizona. Within a few more dates, Greg was down on one knee in the middle of a parking lot asking Dianne to marry him to which she answered a jubilant ‘Yes!” Knowing the heightened rate of marriage failures in the recent years, and being somewhat of a know it all, Dianne decided to prepare her own prenuptial agreement which stated that each person’s earnings after the couple was married would be his or her own separate property, rather than becoming the couple’s community property. After reading it over, Greg decided to sign it and gave it back to Dianne who promptly filed it in with her other important papers, forgetting to sign it herself. The couple was married a few months later in February of 2010. From then until now, the following relevant events occurred: - Dianne received a gift of $100,000 from her best friend Carlie (she struck it big on the gambling riverboats) which she placed in a brokerage account which has already grown to earn her an additional $25,000 (she is after all a know it all) - Greg opened a bank account which he deposits a portion of each of his paychecks. The account has a pay on death designation naming his younger brother, David, as the at-death payee. The current balance is $50,000 - Dianne’s mother got into a few financial difficulties (she’s quite the gambler, you know) so Dianne signed as a guarantor of her mother’s promissory note for $12,000 - Dianne stopped paying her student loans which she had entered into in the early 2000’s. She “forgot” to tell the lender that she moved to Arizona and therefore did not get her statements. The amount currently due on these loans is $75,000. On April 15th of this year, Greg came home from work to quite a shock (he’d only been planning to finish their tax returns, so really anything would have been shocking) - he found Dianne in their bed with the local lounge singer from the club. He stormed out with a suitcase of his things and filed for divorce later that day (instead of filing for taxes). A hearing to attempt to finalize this divorce is next Friday at 3pm. To assist the judge in ruling on the division of property, fully discuss in an organized manner all of the issues raised by these facts.
Posted on: Mon, 07 Apr 2014 21:31:05 +0000
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