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How to best prepare for a divorce in 9 years.

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  • How to best prepare for a divorce in 9 years.

    Like the topic said. The house will be paid off in 9 years. Both of us are working and assume will be working in 9 years. She is making half of what I am making annually. Both kids will be 18 years old by then and may go to universities.
    Any suggestion on what I can do to be financially prepared for the divorce?

  • #2
    Nine years is a long time to be in an unhappy marriage. The short answer is you can never be prepared financially for a divorce no matter how long it takes. In 9 years from now, you your house will be paid off? The lawyers will love that. Gauranteed legal fees for them as well as for the other family court clowns like expert witnesses.
    If you and your spouse come to an agreement on your own without court involvement you will still take a huge financial hit. Both of you will. If your spouse responds negatively to your separation in 9 years and escalates things to a high conflict level you will lose all control and be forced to come along for the ride with a high probability of financial ruination for the both of you ( from which you may never recover).

    If you are planning to stay in the marriage for another 9 years your best bet is to make the marriage work . That will save you the most money and grief. If that is not an option, why on earth would you wait 9 years to leave?


    • #3
      Keep in mind that the longer you are married, the more you may have to pay spousal support. IIRC, the rule of thumb is 6 months for every year of marriage.

      Also keep in mind the 'Rule of 65'. At the time of separation, if the number of years of the marriage + your spouse's age add up to 65 or more, you could be sentenced to paying 'indefinite' spousal support. Take my word for it that you don't want to end up in that situation.

      As for non-financial concerns, if you and your spouse aren't getting along the kids will know or sense it. You aren't doing them any favours by raising them in an environment where their parents are at odds.


      • #4
        Much like the two previous responses... for your best financial result in 9 years, end it now. You'll be mostly recovered by then.
        Obviously we don't know all of your details, but the longer you wait, the worse it will be for you.
        If your relationship is bad now, the kids are already aware of it.


        • #5
          Take it from someone who has been there. Leave now. Don't put yourself, your spouse and your kids through this. I waited and it has been a financial nightmare. Had I left years ago the kids would be better adjusted now. I also lived through divorce with my parents who waited until we were older. I knew my parents hated each other, were just buying time and I felt our family life was one big lie. I distinctly remember my mother opening a gift on Christmas morning from my dad and giving him a fake smile. It broke my heart to know they were living like this. Like others have said, you will owe your wife spousal support until you die most likely. Give her those nine years to go out and be the best she can be and get a job and support herself.


          • #6
            Is this 9-year plan consensual? Does your wife know?


            • #7
              Your house being paid off and the kids being 18 means nothing. You still have to pay cs and school expenses.

              Divorce now, sell the house, get an agreement set up and put money into an RESP to get interest and grants.

              Waiting is stupid.


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