Financial question

dday_throwaway3 · 2021-04-20T15:03:21+00:00

If you're in the US, the financial split is straightforward: Add up all assets and liabilities, then divide by two. You each get half. Negotiations in divorce surround the how -- who gets what car, who keeps the collectibles, who keeps the house and who gets paid their equity share, and how retirement accounts are split.

Spousal support is paid by the higher earner to the lower earner when there is a wide delta in incomes like yours. The duration and amount are dependent upon the state you live in.

anotherBrokenMug · 2021-04-20T15:03:12+00:00

You need to consult an attorney. They can help you develop realistic expectations based on your state's laws.

kg-prime · 2021-04-20T19:11:23+00:00

Do not skimp out on the attorney or crack lawyer. Women generally have the courts and systems on their side so accept you are playing catchup. If she makes more, she will bring bigger guns.

Go for all and establish a strong position (because she likely has already done this) so you are only catching up. Go an as many channels and read about as much as you can because you probably are doing g the chivalry thing so you need to snap out of it.

Get your records together and try to learn all their tricks so you do not make stupid mistakes (e.g. go into a shouting match and get police called on you, she throws stuff at you and you throw something back and the cops think it was all you).

Get a lawyer first and come back to reddit for references and not the other way round.

moneyshaker6414 · 2021-04-20T16:59:34+00:00

Also spousal support going to the lower wage earner, they may go back x years of income. So it’s not just based on that one year.

SzDiverge · 2021-04-21T19:10:27+00:00

What kind of debt?

If it's debt acquired during the marriage, then you'll likely split it in half.

If one of you brought debt into the marriage, like student loans, then they may stay with the borrower.

This is at the court level though.. You'll likely go through mediation first. This is where you may negotiate who takes what regarding assets and liabilities (debt).

My STBX was hell bent on me taking every penny of debt.. she was on some otherworldly vendetta against me. lol She was told during mediation that it would never fly in court so she needed to temper her expectations. We negotiated in several areas and I ended up with about 55% of the debt. I make about 3x more than she does.

Title	Financial question
Author	BuckShadaCaster
Upvotes	3
Comments	7
Date	April 20, 2021 2:51 PM UTC (5 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/mus23t/financial_question/
Archive Link	https://theredarchive.com/r/Divorce_Men/financial-question.817209 https://theredarchive.com/post/817209

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