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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 01-28-2014, 12:42 AM
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Default Unequal division of proprty

In our divorce my ex retained $20k worth of assets. I was left with no assets of any nature, however I was left with $22k of the debt. Ex was left with no debt.


How are these numbers worked into the calculation for spousal support via divorce mate?

Further facts:

Ex makes 15k annually

I make 56k per year

Married 15 years

It would be a "with child" calculation.

Can anyone plug these numbers in for me.? I am not sure how to use the formula. It would be greatly appreciated.

Thanks
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Old 01-28-2014, 09:12 AM
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Quote:
Originally Posted by rainman View Post
In our divorce my ex retained $20k worth of assets. I was left with no assets of any nature, however I was left with $22k of the debt. Ex was left with no debt.


How are these numbers worked into the calculation for spousal support via divorce mate?

Further facts:

Ex makes 15k annually

I make 56k per year

Married 15 years

It would be a "with child" calculation.

Can anyone plug these numbers in for me.? I am not sure how to use the formula. It would be greatly appreciated.

Thanks
The support calculator only works with incomes. It doesn't have anything to do with equalization. Your best bet is not to have unequal equalization!

If you have to have unequal equalization, and you have to pay support, then I would try to negotiate reduced support payments.

You got hosed for $21k in the equalization process from the sounds of it. So I would recommend something like insisting on the support amount being halved until $21k is accounted for.
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Old 01-28-2014, 10:33 AM
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I'm fairly confident that equalization comes before SS in family court. Sounds like their lawyer is trying to sweep it under the rug. If you have taken on the "joint debt" then you don't have the means to pay them SS, otherwise you will want it calculated properly on your NFP where they haven't disclosed. It is not sufficient to simply list a bunch of numbers on an NFP with supporting documentation. Try sending a brief of what you think is the NFP with supporting ducomentation on each "numbered item". Let what is missing fall on their shoulders. This way it will show the judge what hasn't been disclosed. Unequal division of assets is covered under 5.6 of the family law act.
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Old 01-28-2014, 11:15 AM
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Dude, don't take an unequal division of assets AND then pay spousal support.

Still, if you're being double screwed, you can ask that the debt repayment be taken off of the amount of SS each month until the debt is repaid.

From mysupportcalculator.ca using your numbers.

Spousal support is $760 to $1106 with a midpoint of $936 per month. This is for 7.5 to 15 years. Normally for a 15 year marriage you would pay closer to 10-12 years.

I would argue if you are repaying marital debt at, for example, $500 per month, your SS should be reduced by this amount (ie $436/month).
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Old 01-28-2014, 12:13 PM
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Fighting... if he's paying a marital debt of $500 month, wouldn't his SS be reduced by half that amount? Half would be her share of the debt?
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Old 01-28-2014, 01:24 PM
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Depends on how they negotiate it. The "marital debt" may well have been accrued by only one of them, in which case, cutting it by half may still not be fair. I would make the offer using the full amount as credit, but be willing to see what the other side has to say.

Judging from the numbers given, since Rainman only makes 56k, it is probable he simply cannot afford to do CS, SS plus the debt repayments and still live.

When I was paying CS+SS, my income was the same as his, and I had to find a way to live on $1400 per month. It's not really doable.
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