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#649361 - 07/08/10 06:50 PM Determining A Fair Asset Split in a Do-It-Yourself
dogtails Offline

recently joined

Registered: 07/08/10
Posts: 6
Here our arrangement: Married 29+ years, no dependents, own our house free and clear, have savings and a collection of classic cars.

We are wanting to do a do-it-yourself divorce; we are negotiating rationally (so far).

Of course we are not agreeing and that is why I'm looking for ideas. We know WA is a 50/50 state and we acquired everything in our marriage.

I am wondering if there are any 'guidelines' for determining what is fair. Here are some of my challenges:

Our classic cars have a receipt value which covers just cost of refurbishing, but their market value maybe quite different, probably double...as spouse restores classics.

I have a retirement fund that has cash value and when I turn 65 will give me a few hundred a month.

Here's the deal the spouse wants to trade across his classic collection worth probably $75K+ for my retirement fund present value @ $12K Personally I don't want the cars but I don't think that is fair value. Retirement funds fail, classics appreciate, etc.

Oh, and the house - he wants to stay here until he wants to sell then I get my 1/2. That is fine (with a time limit) but I need all the savings to go buy another, lesser house. He says I should get only 1/2 the savings. I say give me all the savings which will go against the house sale proceeds. Oh, then he says depending on my decisions he may or may not charge me for the work he does to fix up the houses to sell it! (Yes, manipulative). We remodeled this house together, so....

Anyway, you get the drift...it's age old I'm sure. I'm just looking for remedy's or ideas that may work as we negotiate our way through this happy divorce.

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#649362 - 07/11/10 04:23 AM Re: Determining A Fair Asset Split in a Do-It-Yourself [Re: dogtails]
BarbaraSD Offline

newbie

Registered: 07/10/10
Posts: 36
You really should have those guidlines researched so that you can be prepared and actually have the judge sign-off on the aggreement as being fair.
An excellent resource for self-represented people is
centenniallawoffices.com/Pro%20Per.html
You can get your legal issues researched and answers provided quickly, help with forms, etc. without actually having to hire attorney to represent you. Good luck.

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#649363 - 07/15/11 08:35 PM Re: Determining A Fair Asset Split in a Do-It-Yourself [Re: dogtails]
Debbs_Seattle Offline

recently joined

Registered: 07/15/11
Posts: 7
If he does not want the cars, they should be liquidated at fair market value now and the cash divided equally. Your investment may be more secure in another form without monthly insurance liabilities,storage and maintenance of the cars. Depending on overall net worth of course.....

The tenancy of the marital home, should by all means, be agreeable to his maintaining occupancy, with a written agreement to timeline and specific provisions for sale after. This may offer market increase in value anyhow. Insurance should be prepaid and proven by him on at least quarterly schedule. Proof of property tax payment as well. He should RENT your half of the home from you monthly as well as your possession of half cash holdings immediately.

Non retirement funds dvide quickly and easily. Let him have the odd penny if there is one.

Retirement funds should be moved to a low-risk cash/bond fund until final resolution achieved to protect values.

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