I am in the middle of a divorce and my spouse wants to sell our
condominium and after all community debts are paid split the proceeds.
One problem though,
We live in a community property state and I am living on disability.
SSDI and
a private co which runs out in 5 years. Our property is valued at
approx 325M less a 40,000.00 equity loan. We would each walk away with
about 125M. However my spouse is waiting for her inheritence in the
form of real california beach property currently on the market for
5million dollars. Of which she owns 1/3rd.
Now my attorney tells me to keep the condo free and clear of any and
all encumberences and in turn I would give up my rights to spousal
support when my spouse rakes in all that loot.What is fair? What is
the smart thing to do?

There are several issues that will answer this question. It is not a
simple one.

First, I would assume there are no pre-nuptial agreements that would
regulate some of these issues.

Second, ask yourself who wanted the divorce more? Was someone "at
fault"? Was someone more of the reason for the divorce than the other?
If so, the person with less fault may be entitled to more of the
assets.

Third, ask yourself who earned this money and property. If you are
more responsible for the majority of your assets, then perhaps you
should argue that you should obtain the assets. If your wife is
responsible for more of the assets, perhaps you give a little.

Fourth, ask yourself how far you are willing to dispute the assets in
order to get the divorce behind you, so you both can get on with your
separate lives. If it is overly stressful going through this
situation, perhaps it's worth it to you to give her some leighway. Or
perhaps you're willing to press the issue to the end.

I've done a fair amount of research on this for you and have found
some other sites that may be of interest to you:

Divorce Source. http://www.divorcesource.com/research/edj/inherited/94jan9.shtml

What to say in a divorce hearing.
http://www.fisherslawoffice.com/answers/d_finalhearing.html

How decisions are made in the divorce.
http://www.state.vt.us/courts/family/pmflt_15.htm

Dirty Divorce Secrets. http://www.florida-divorce-laws.com/

I hope this helps.

darrel-ga

There are several questions that come to mind...

(a) Are you entitled to 50% of your spouse's 1.6 million (or less)
proceeds from the sale of real property?

(b) Are you entitled to spousal support?  The courts of L.A. County
Superior use 'DissoMaster' last time I worked for them to determine
if/how much spousal support.  If you ARE entitled to spousal support,
what is the present value (PV) of that support?  For example, if
DissoMaster states that you are entiled to $x support for n years,
what is the present value of those payments?

If the present value of those payments is at, or close to, the value
of your share of the real property owned by you and your spouse, then
you choose to surrender any demand for spousal support in exchange for
her surrendering her share of the real property (bird in hand is
better than two in bush principle).  If the spousal support payments
are more than the value of the real property owned by you and your
spouse, then it's a toss depending on how long you expect to live.