Hello,
Some background. Married 14 years. 4 Kids (ages 6-14). My income ~ 120,000/year. Wife - zero income (in school part time). Shared custody (50/50 exactly).
We are going through mediation at the moment and i'm trying to understand the "fair" distribution of income.
I know my child support will be approximately $2600/month (as per guidelines), while the mediator stated that spousal support would be in the range of ~ 350 -> 1700 a month. My spouse also wants a 10 year duration.
I went with the assumption that we should strive for a 50/50 split of Net Disposable Income (i.e., cash in hand). This is from what I've read from the SSAG guidelines.
Unfortunately, after I:
1) Pay CS
2) Deduct applicable items (i.e., income tax, EI, CPP, benefits, life insurance); and
3) Add in Government Benefits (i.e., my wife will get significant more Canad Child Benefit)
My spouse would be left with the minimum amount of SS. Is my calculations and assumption correct?
My spouse is not happy with this arrangement, and says that based on a compensatory claim she should be getting more. In fact, if i give her the "midpoint" of the SS (apparently it's 1300/month, not sure how that the "midpoint", that would leave her with about 1500/month more than me.
Please help me understand. I really want this to be FAIR FOR HER and the kids.
Thanks
Some background. Married 14 years. 4 Kids (ages 6-14). My income ~ 120,000/year. Wife - zero income (in school part time). Shared custody (50/50 exactly).
We are going through mediation at the moment and i'm trying to understand the "fair" distribution of income.
I know my child support will be approximately $2600/month (as per guidelines), while the mediator stated that spousal support would be in the range of ~ 350 -> 1700 a month. My spouse also wants a 10 year duration.
I went with the assumption that we should strive for a 50/50 split of Net Disposable Income (i.e., cash in hand). This is from what I've read from the SSAG guidelines.
Unfortunately, after I:
1) Pay CS
2) Deduct applicable items (i.e., income tax, EI, CPP, benefits, life insurance); and
3) Add in Government Benefits (i.e., my wife will get significant more Canad Child Benefit)
My spouse would be left with the minimum amount of SS. Is my calculations and assumption correct?
My spouse is not happy with this arrangement, and says that based on a compensatory claim she should be getting more. In fact, if i give her the "midpoint" of the SS (apparently it's 1300/month, not sure how that the "midpoint", that would leave her with about 1500/month more than me.
Please help me understand. I really want this to be FAIR FOR HER and the kids.
Thanks
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