Splitting Assets Eventually. Need Advice.

bkdad75 · 2024-11-22T04:10:01+00:00

Sure as heck isn't like that in New York. Say he's earning $101, she's earning $100, and they're 50/50. He'll be paying her the exact same amount as if she had 100% custody. Doesn't make much sense.

captainchippsixx · 2024-10-23T20:06:08+00:00

I would subtract the sellers fee if you sold it. If you are losing 5% to realtor - take off $12500 and then divide by half .

RevolutionaryLaw8854 · 2024-10-23T17:42:17+00:00

Yes. You owe her $60,000.

Yes, you can pay her $60,000 of debt from other sources, say credit cards.

Imagine you have $120,000 of equity in your home and $120,000 of credit card debts. If you sold the house and paid off the cards - you each would walk away free and clear.

If you want the house - she walks away free and clear and you get the $120,000 equity position in the house and $120,000 of credit card debt.

Or you could “pay” her with something else - say from your 401k. Say you’ve got $1MM in retirement. You each have $500,000 after the divorce. You could “pay” her the $60,000 from your retirement. Then you would have $440,000 and she would have $560,000.

comandeer_conflict · 2024-10-23T16:58:40+00:00

What are you meaning when you say you will take her debts? Credit card payments and the like?

Is the division of the house as simple as half the difference between what is owed and appraised value?

Is there wiggle room in there for a better deal for you?

I'm thinking that if you sold it you'd have to pay for a realtor and closing costs as well as possible capital gains tax(not sure on this one).

OctinoxateAndZinc · 2024-10-23T14:19:47+00:00

We agreed to 50/50 custody, but I don’t know how she could possibly do that with her schedule, and I’m hoping the judge isn’t going to make me go off of her weekly changing schedule as the custody schedule?

Its important to note that wild schedules and long shifts are a LUXURY of marriage. If you're divorced they go bye-bye unless that person has someone else to assist or paid care. Her inability to make her 50% work is NOT your problem. I am married to a doctor that works 12s and off shift. THEY have had to make some concessions in their work and adjust to days (was on nights) and work all of their time on days they dont have the kids.

Make sure your parenting agreement makes the responsibly of the cost of child care ONLY on the person that needs it. You dont want her sticking them in care all her time and then asking you to split the bill. Look into right of first refusal to get time that she would put them in care or with her family.

No judge will make YOU move your days around to suit her work as much as they would not make her move her days to suit yours. If you have a lawyer (or not) please make the argument that they can adjust their schedule (move to days, to 8s, whatever).

Remember that Child Support is based on overnights. Once my spouse saw I was going to end up with an extra 50+ days a year (232/133 so 64%/36% custody) they had to move to days and shorter shifts so they wouldn't be on the hook for a ton of CS.

EDIT: I am on a 2-2-5-5 schedule (them every m/t, me every wed/thr, the flipping every fri/sat/sun) which could work if your spouse is in the medical field. I suggest kid swaps on school days so you dont have to see them as much.

EDIT2: you've got an older account with other posts - if you think she might even possibly know about it DELETE THE DIVORCE POSTS and get a burner.

comandeer_conflict · 2024-10-23T13:57:30+00:00

Do you have an accurate assessment of exactly what the assets are and what the debts are?

An assessment of everything? Retirement accounts, automobiles, all of that stuff that is worth over $500 gets listed out.

That would give you an accurate assessment of where things are financially.

Take a minute to set up your own separate bank account and put money in it now. As soon as you file for divorce with the court all funds get frozen.

The custody piece sounds like it is a useful leverage tool to hold on to. I wouldn't hurry to expose that quite yet. Timing is going to be everything with that usage.

I don't think that a 50/50 custody agreement would be dictated by her schedule. She would be responsible for child care during the times that she would have your child.

So whatever setup is agreed to it would be her responsibility.

Would she be willing to pay for child care? Or would she have child care options available to her? Would you be available for childcare during the times that she would need covered?

It really seems to hinge on her view of how she wants the custody to proceed if that is to become a leverage point for you retaining the house.

techrmd3 · 2024-10-23T13:51:03+00:00

no... you need 120k

remember because this is IMPORTANT, you can only "pay or have control of HALF any asset" during divorce the default is to split down the middle EVERYTHING

so if you have 50k in a bank account, you only have 25k for YOU YOU single you control.

AND if you decide hey I will give the Ex ALL my cash and she should take that for these other assets... well she HAS TO AGREE to that exchange (not likely)

FYI - if it goes to a Judge in 2 years HE will tell you to split every asset 50/50 right down the line and probably force sale of the house

Just sell the house de-tangle the mortgage and deed issues and start fresh, only bad things happen if you keep the marital residence on the other side of marriage

Title	Splitting Assets Eventually. Need Advice.
Author	MackDaddy611
Upvotes	3
Comments	17
Date	October 23, 2024 1:30 PM UTC (1 year ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/1gaam8f/splitting_assets_eventually_need_advice/
Archive Link	https://theredarchive.com/r/Divorce_Men/splitting-assets-eventually-need-advice.1532733 https://theredarchive.com/post/1532733

Comments