This book will focus on the rights each spouse has under certain laws, situations, and circumstances, and how the division of the property will be decided by the court or through negotiation.
The details: we've been married over 11 years. My husband has been unfaithful, on and off, for at least 4 years (probably more like 8 years). We have an 8yo son. I have not worked outside the home in 8 years. My husband earns between $150-200K per year.
Assets and debts are as follows:
* Debts: $8K total in CC debt and car loan; $100K mortgage * Assets: almost $100K in bank (liquid); $100k+ in retirement funds; equity in house is about $150K. House is worth about $250-260K (conservative estimate). I want to stay in the house, but don't have $125K+ to buy out his half.
I am hoping for spousal support in addition to child support. I want to try to continue to be a stay-at-home-mom if I can, as our son has special educational needs and it would be best if I could continue to homeschool him.
I am working under the assumption that our debts and assets will be divided (roughly) 50/50. We are in PA.
If we split all the money assets down the middle, we'd each get $100K. If we split the house equity down the middle (i.e., sold the house), we'd each get about $75K after we pay off the mortgage. Given that I want to stay in the house, but want a cushion of cash for hard times, what would you advise me to ask for?
You keep the house, split the retirement and cash, and you end up with a 100K mortgage, with $150K in equity, and $25K in the bank. You also will get about a quarter of a million dollars in child support over the next 10 years (a little over $2K) a month. From there, if you need extra cushion money, you will have to go to work. I'd take online classes as long as I could, until I had to be in the classroom for awhile to better myself and increase my income potential. Good luck.
Previous
Index
Next
Threaded
Edit
Reply
Quote
