Online services for answering questions about splitting of assets

Reflog1791 · 2024-01-25T19:37:59+00:00

A $10k or $15k swing either direction is not going to haunt you five years from now.

A $100k mistake may drive you insane.

Going all the way to a contentious trial and the subsequent trials can turn into that $100k mistake very easily.

My advice, if she is negotiating in good faith and making concessions, make the deal in mediation without lawyers. But I would get a lawyer as a sounding board for your proposals.

pk2at · 2024-01-25T17:20:50+00:00

Also what no one tells you, asset disclosure is de-facto voluntary, i.e. there is no divorce IRS to enforce or check your financial info. It all depends on your wife's lawyer and how much money they are ready to spend attempting a forced disclosure.

Also what no one tells you, the Judge will take what you have disclosed, what she has disclosed, add and divide by two. This is not a financial fraud case, nor are you in tax court and there are really no laws related to how need to measure 'wealth' during divorce

RevolutionaryLaw8854 · 2024-01-25T16:42:06+00:00

You can do what ever you want. The question is - is she going to agree to it?

So, if you think that a court is going to give you some consideration for “her debt” that “you paid off” during the marriage, you may be misguided. The court will say “we paid off debt during our marriage”.

That being said- yeah go for it and see what she says. It’s all a negotiation. So I wouldn’t start at 50/50 if you don’t have too. But understand- she may lawyer up and blow the whole thing up.

But in all honesty- it’s a short duration marriage and doesn’t seem like we are dealing with huge amounts here.

Kids?

Fwooply · 2024-01-25T16:33:26+00:00

I'm in CA. I'll describe how it went for me.

There is a surprising amount of wiggle room to do whatever you want. Settling without a trial allows creativity. Results vary. So I think answers to your questions, even from a lawyer, will have a huge margin of error.

Again CA. I believe assets gained before marriage are not community property. I think scenarios like "I paid her bills" is evaporated money unless you very specifically paid principle on loans. For example, if she had a mortgage before marriage and you contributed to that you share part of that investment.

Retirement savings was our largest $, followed by home equity, followed by vehicles.

We both had pensions. Too difficult to split. We kept our own.

My divorce decree punted the other retirement accounts (IRAs, 401k, etc) to a QDRO lawyer. I think QDRO is typical for complex retirement savings. It may even be required to avoid tax penalties. My QDRO lawyer was $250 an hour, $2500 retainer. We agreed on 50/50 in the decree. The lawyer divided by 2, charged a lot. The order went to Fidelity and my net worth took a cliff dive.

The decree was otherwise very, very simple.

A one-liner described how to split the home equity as percentages. Escrow took it from there. We sold.

A one-liner described how to split the home goods... That would be stuff like furniture, pots, tools, etc. "Home goods to be split 50/50." Surprisingly sparse. I asked "what do you want?" and gave her everything she listed. No sense going to court fighting over nickels and dimes.

The decree went into details about vehicles. Each car was mentioned specifically.

New-Amoeba9042 · 2024-01-25T15:50:43+00:00

Well, being the sole provider and paying of her debts don’t matter at all if a court ruling is what you’re basing this split on. If it la just equitable between you two, then just do whatever you agree on

Title	Online services for answering questions about splitting of assets
Author	brettfish5
Upvotes	1
Comments	17
Date	January 25, 2024 2:19 PM UTC (2 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/19fae4n/online_services_for_answering_questions_about/
Archive Link	https://theredarchive.com/r/Divorce_Men/online-services-for-answering-questions-about.1243768 https://theredarchive.com/post/1243768

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