gforce651
recently joined
Reged: 10/16/10
Posts: 2
Loc: Mn
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Hello,
I'm new to the forum and have a question re: spousal support, if my wife and separate and then eventually divorce is there a good chance I'll have to pay some amount of SS even IF she has a good paying, full-time job? We have to children under the age of 18. I am more than prepared to pay child support but it's the SS I'm unsure of.
Thanks everyone and I look fwd to reading your replies.
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finz
Carpal \'Tunnel
Reged: 06/17/08
Posts: 6462
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What's the difference in your salaries ? How long have you been married ?
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1966Gal
Carpal \'Tunnel
Reged: 04/04/08
Posts: 10098
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Depends on what state you are in. Who makes more money. How much disparity there is between both of your income. Any contribution she made to your career (i.e. she worked to put you through med school).
For most states, it's primarily based on the length of the marriage, her need, and your ability to pay.
So before we answer, we need to know how long you are been married. What is your income? What is her income? Are there any significant marital assets to be split that would limit her need for spousal support? Was she ever a stay-at-home mom or worked a "lesser" job due to the needs of the family/children?
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The Gov cannot give anything to anyone - that they have not first taken away from someone else.
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gforce651
recently joined
Reged: 10/16/10
Posts: 2
Loc: Mn
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WOW, good questions, and to answer them; we have been married for almost 21 yrs, I make about 10k more per yr than she does, we live in Mn. Not sure what defines "significant" marital assets but we do have a "few" paid off items, ie; a boat (value approx 6-8k), a car (value approx 5k)and household items such as furniture, flat screen TV's, etc...we also have about 9k in savings.She never really was a stay at home mom, has always worked full time. She never worked a lesser job to advance my career. Would a judge take into account the value of our current home towards maintaining a "quality of life"?
Thanks everyone,
Edited by gforce651 (10/17/10 08:53 PM)
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DedicatedDad
veteran
Reged: 09/05/04
Posts: 1318
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There won't be any SS. You will split value of the car, boat, cash, etc. How much equity in the home? In order for either party to keep it, they must pay 1/2 the equity to the other. If neither can afford it, then it is very wise to sell it.
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1966Gal
Carpal \'Tunnel
Reged: 04/04/08
Posts: 10098
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Again, it depends on what your income is. If you she makes $90,000 and you make $100,000, then a $10,000 disparity isn't much and she probably wouldn't be awarded alimony.
However, if your income is less...you make $35,000 and she makes $25,000, then $10,000 disparity is significant and she might be awarded alimony.
You'll pretty much split assets down the middle. If there is equity in the home, one of your buys out the other or the house is sold and you split the equity.
If she is awarded alimony, you are always offer a higher split of the assets in lieu of alimony. Instead of a 50/50 split, you could do 60/40 on the condition that she signs off on never receiving alimony now or in the future.
There are lots of ways that you can play with the numbers that can result in a fair and equitable divorce.
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The Gov cannot give anything to anyone - that they have not first taken away from someone else.
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hanzblinx
enthusiast
Reged: 08/13/10
Posts: 380
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I don't think you will pay any SS but your worst case scenario would be about 4K /year. Congrats on not getting screwed over!
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