preemiemom
Carpal \'Tunnel
Reged: 01/17/07
Posts: 19391
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Re: The Spreadsheet....
03/23/07 01:59 PM
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You don't mention how long you were married, nor how long your wife had the 401K.
You would only be entitled to, I believe, half of the portion of the 401K that was accrued WHILE you were married. So, if you were married one year...you would be entitled to one half of the one year's worth of contributions.
There is doubtful any consideration for "future value". Things are assumed at their value at the time of the split.
As long as the house was acquired during the marriage, that would be split equally so you would be entitled to half of the equity, as would she.
Even though each of your credit card debts is in each of your name's.. was the debt acquired BEFORE or after the marriage? If after, you are both responsible.. since it's equal amounts in each of your names.. easy enough to split.
You mentioned in another posting that your wife wanted to keep the home, you did not not and wished to sell and split equity. Another alternative is that she keep the home.. and refinance (which she'd likely want to do anyway to get your name off of the loans) and take out additional monies to buy you out of a) your share of the credit card debt and b) your truck debt.. leaving you with zero debt and a truck you now own outright.. and leaving her with the remaining equity in the property and the remaining credit card debt.
Doing it that way would give you $42K in the $75K that is your half of equity. She could take out additional equity to pay out your remaining "share".
Based on the amount in her 401K.. it would take quite a long time to build up that amount.. I'm going to guess your rights to that are limited.. And also, you have NO 401K? NO pension??? Have you worked where you work 5 years or more? White collar job? It's possible you have a pension and you don't know it? If so, she's entitled to have of THAT... which technically, could offset what she would "owe" you for your share of her 401K...
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