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

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  #11  
Old 11-03-2011, 09:36 PM
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The term you're looking for is 'equalization' which is the division of your assets, this isn't the same as spousal support at all. And yes, you are absolutely entitled to equalization whether or not you have a job, despite what WorkingD-bag suggests.

If he wants to retain the home then yes, he would buy out your share of the equity in the home. How the two of you decide to arrange it is up to the two of you however I would think that taking monthly payments could keep the two of you linked for a lot longer than you would like and could lead to other issues further down the road if things should change or if he should decide to stop paying etc.

If he can`t afford to buy you out and you don`t want to keep the home and buy him out then the best thing is probably to sell it, split the cash and go your seperate ways.
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Old 11-03-2011, 09:47 PM
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Quote:
Originally Posted by blinkandimgone View Post
The term you're looking for is 'equalization' which is the division of your assets, this isn't the same as spousal support at all. And yes, you are absolutely entitled to equalization whether or not you have a job, despite what WorkingD-bag suggests.

If he wants to retain the home then yes, he would buy out your share of the equity in the home. How the two of you decide to arrange it is up to the two of you however I would think that taking monthly payments could keep the two of you linked for a lot longer than you would like and could lead to other issues further down the road if things should change or if he should decide to stop paying etc.

If he can`t afford to buy you out and you don`t want to keep the home and buy him out then the best thing is probably to sell it, split the cash and go your seperate ways.
thanks now I know one more legal term
we're going to have a talk about this tomorrow and I'll keep your suggestion in mind.
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Old 11-03-2011, 10:02 PM
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Quote:
Originally Posted by blinkandimgone View Post
The term you're looking for is 'equalization' which is the division of your assets, this isn't the same as spousal support at all. And yes, you are absolutely entitled to equalization whether or not you have a job, despite what WorkingD-bag suggests.
Hey! I did not call you names! My answer was about SS. That how tread titled...
What are you 5 year old?

What make you think that you can call anyone names? Anything?
  #14  
Old 11-03-2011, 10:13 PM
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It was a good jab, though, WorkingDad, you have to admit.!!! I'm still laughing. And you're right.. Not a good day to be asking about SS.
  #15  
Old 11-03-2011, 10:27 PM
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Originally Posted by WorkingDAD View Post
Hey! I did not call you names! My answer was about SS. That how tread titled...
What are you 5 year old?

What make you think that you can call anyone names? Anything?
You posted a ridiculous response. Had you taken the time to actually READ the post you'd have quickly realized it had nothing whatsoever to do with SS, shelved your douchebaggery and offered some actual advice.
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Old 11-03-2011, 10:58 PM
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Originally Posted by blinkandimgone View Post
You posted a ridiculous response. Had you taken the time to actually READ the post you'd have quickly realized it had nothing whatsoever to do with SS, shelved your douchebaggery and offered some actual advice.
So nothing? That what I thoughts... Thank you for confirming that...
  #17  
Old 11-03-2011, 11:19 PM
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You are entitled to equalization as a more knowledgeable member said. Accepting monthly payments as ss would mean you pay tax on what he pays and he gets tax deduction. Normally the home is either bought out and the other paid out or sold and profit split. The monthly payment you refer to is not a very reasonable way to go, too much risk for you. Best to disregard all the repsonses regarding spousal has nothing to do with your situation, just people getting out of hand, doesn't apply here.
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Old 11-03-2011, 11:31 PM
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BTW since the topic is really equalization and not ss, I'm sure you may already know but equalization includes all debts as well as assets to come to a final number of what you each come out with.
  #19  
Old 11-04-2011, 10:16 AM
NoRegret NoRegret is offline
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Quote:
Originally Posted by today View Post
You are entitled to equalization as a more knowledgeable member said. Accepting monthly payments as ss would mean you pay tax on what he pays and he gets tax deduction. Normally the home is either bought out and the other paid out or sold and profit split. The monthly payment you refer to is not a very reasonable way to go, too much risk for you. Best to disregard all the repsonses regarding spousal has nothing to do with your situation, just people getting out of hand, doesn't apply here.
I can see it now it is risky. So probably just sell the house is a better option. I was told since I own the house also, I can choose to sell even if he doesn't want to. This will create friction but I don't see any other way to make sure I am getting my fair share of the house without risk.

Thanks for knowledgeable helpful responses Exquizique blinkandimgone today
  #20  
Old 11-04-2011, 10:25 AM
NoRegret NoRegret is offline
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Originally Posted by today View Post
BTW since the topic is really equalization and not ss, I'm sure you may already know but equalization includes all debts as well as assets to come to a final number of what you each come out with.
Yes I am told about this too. He didn't go to a lawyer, he just talked to his divorced friends who are probably biased. The lawyer I went to, only spoke about what I am entitled to and how to calculate the number.

So honestly, thanks again Exquizique blinkandimgone today you've been helpful
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