snapperloo
New
Reged: 10/31/07
Posts: 5
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First, I'd like to start by saying that this forum is a great idea and i've learned tons already. It's also good to know there are people out there that care enough to help.
Here's my list of facts:
5 years of marriage: I make 95k, she makes 43k
She worked before and works now. She went to school for 2 years during our marriage and didn't work during that time.
We have no assets and our house has no equity after 1 1/2 years. debt: she owes 15k in student loans, we owe 6k in credit cards. We have no children. I've got about 4k in stocks and 10k in 401k.
She wants (and her lawyer tells her), she can get over 1k p/month over +3 years.
I want her to get $0 over 0 years, but my lawyer thinks $600 p/month of 1 year is resonable. I'll not go into the details of my logic, but can someone tell me what is likely the outcome of this divorce in terms of settlement and alimony? *i'll get into some deep philosphy later.
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What will I lose
Platinum
Reged: 05/21/07
Posts: 705
Loc: PA
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The people on this board say 1/2 the length of the marriage is standard.
I know for a fact here in PA I would have to pay (my salary - her disability) times .4
My atty showed me this formula in the law book.
Also any accrual of pension during the marriage is open for the taking.
sorry can't be more help. Let me say you are 'lucky' you have no equity in the house as nothing to fight over there. My 1st marriage I had the same thing and got to keep the house and the mortgage and was thrilled.
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call me WWIL...PA resident 39 year old , married 11 years, together 12...splitting in 13th year.
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snapperloo
New
Reged: 10/31/07
Posts: 5
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.4 sounds a bit extreme. I would that was because she was not working. About my philosophy... "They" (the legal system and society) wants you to ignore your financial status prior to the marriage then, would it not make sense to ignore it post-marriage, espcially if it was short term?
Can anyone else offer any opinion of my situation?
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Jada
Platinum
Reged: 06/02/07
Posts: 3239
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[quote]First, I'd like to start by saying that this forum is a great idea and i've learned tons already. It's also good to know there are people out there that care enough to help.
Here's my list of facts:
5 years of marriage: I make 95k, she makes 43k
She worked before and works now. She went to school for 2 years during our marriage and didn't work during that time.
We have no assets and our house has no equity after 1 1/2 years. debt: she owes 15k in student loans, we owe 6k in credit cards. We have no children. I've got about 4k in stocks and 10k in 401k.
She wants (and her lawyer tells her), she can get over 1k p/month over +3 years.
I want her to get $0 over 0 years, but my lawyer thinks $600 p/month of 1 year is resonable. I'll not go into the details of my logic, but can someone tell me what is likely the outcome of this divorce in terms of settlement and alimony? *i'll get into some deep philosphy later. [/quote]
For a short term marriage like yours, alimony isn't going to be that long. If the incomes were the same, it wouldn't happen.
You will probably end up paying some alimony. I don't think it will be $1,000 a month for 3 years. It may be closer to what your attorney said, maybe for a little longer.
It's hard to say how much you will be paying, if at all, when it comes to alimony. That is pretty much up to the judge if the two of you can't agree.
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snapperloo
New
Reged: 10/31/07
Posts: 5
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Thanks Jada for your response. That's very refreshing to know. Does it matter that i'm in New Jersey?
If what you say is any indication thought, it shed's a lot of stress off, it really does.
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Samsung
Platinum
Reged: 06/14/07
Posts: 2022
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You want to stay out of court if you can. Alimony for any significant time would most likely be deemed unreasonable with a 5 year marriage. Your assets are $14K, and liabilities are $21K. You should wipe out the credit card debt before divorcing, even if it means selling the stocks. Your attorney's recommendation of $600/month for a year is maybe a little low dollar wise. I would fight anything beyond a year, but you might need to increase the amount a bit. I would be inclined to pay the CC debt, sell the stocks, not touch the 401K, have her take her student loan, and offer up to $1200/month (although I would start with a lower amount, and negotiate up if necessary). Even if you paid the addional $600/month for a year ($7200 total), your attorney bills if you go to court could easily be more than that anyway. Good luck.
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KGrow
Platinum
Reged: 01/27/06
Posts: 3110
Loc: Colorado
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If you went to trial, your settlement would be somewhere in the range of 0 to what she's asking for. If there were any justice, an educated working woman would get no alimony. But you can't count on that. If you go to trial, you'll be looking at big legal fees - ask your lawyer to give you a feel for that.
To minimize your exposure and avoid excessive legal fees, it is in your best interest to settle out of court. To do that, you're going to have to throw her a bone.
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snapperloo
New
Reged: 10/31/07
Posts: 5
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Wow, very informative post Samsung. Thanks for taking the time to think that one through for me. Even though i feel 14400 for a year is criminal, i guess for a year it's not going to kill me. I'm very curious as to why you suggest getting rid of the credit card debt. Doesn't she get half the debt? I'm also wondering whether it would be advantageous for me to sell the house. Since it hasn't sold in nearly a year, i'm considering a deed in lieu for foreclosure and i'll just have to take the credit hit. I wonder if the judge will consider this.
Kgrow,
I agree with you. If we're supposed to leave our financial status behind when we get married because we become "one," should we not leave the status of being "one" behind when we get divorced? I just don't see how they justify my having to pay for anything post-marraige. It makes no logicial sense. We've both improved career-wise. Her salary has grown percentage-wise just has much, if not more than my percentage. It's almost as if i'm getting a financial penalty for something she wants more than i do!
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LoveChild
Platinum
Reged: 05/19/07
Posts: 269
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[quote] I just don't see how they justify my having to pay for anything post-marraige. It makes no logicial sense. [/quote]
My divorce has been final for 2 months, after 1 year of wrangling and I still have trouble with this concept.
Usually if you pay money, you get something in return. Goods, services, something.
Unless you are paying a fine.
If you are trying a proposal rather than trial, don't offer to pay her loans or her credit cards. And if you have direct deposit of your pay, stop it now.
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stoltz
Platinum
Reged: 01/29/07
Posts: 1478
Loc: Texas
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==============================================================
If we're supposed to leave our financial status behind when we get married because we become "one," should we not leave the status of being "one" behind when we get divorced? I just don't see how they justify my having to pay for anything post-marraige. It makes no logicial sense. We've both improved career-wise. Her salary has grown percentage-wise just has much, if not more than my percentage. It's almost as if i'm getting a financial penalty for something she wants more than i do!
==============================================================
Welcome to the world of Family Law, where common sense is shoved aside - as are constitutional rights. Very little makes sense when it comes to post marriage, and you are experiencing a piece of it. Be thankful you don;t have a lot of assets, and, ESPECIALLY, that you didn't have kids, or you would have been hammered a LOT more (financially AND emotionally). Also, if she had an affair (or two or three), which I'm guessing she did NOT, you would have found out it wouldn't have mattered AT ALL post-divorce. I'd take KGrow and LoveChild's advice and just be thankful your post-divorce "obligations" are so small and not very lengthy.
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