Here are some facts (sorry for the length but I want to cover all details if possible). Getting divorced, very amicable situation, both happy to get out. 1 child age 9. Child support is obvious. Regarding assets, will split all including home, both should end up with 30-50k each in cash from house sale. I make 60k/year, wife unemployed after selling business late last year and looking for a job. She wants to get it over with asap to move on. We plan to do everything in best interest of child.
The kicker is she doesn't want spousal support even though she's unemployed. We have a car worth 10k (paid off) and a another car that's a lease that has 3 years left on it (20k balance owing now plus the '14k payout after year 4). She wants the paid off car (asset), I keep the lease (liability).
I can only afford this if I don't have spousal support to pay. It's essentially 15k in her favour (5k from 1/2 of 10k asset and not assuming 10k from 1/2 of 20k liability).
The question is, if this is all agreed to, including child support and everything, in a separation agreement (done ourselves since we're on good speaking terms and with lawyer review to make it binding), could she get the car, wait a few months then take me to court to try and get spousal support for whatever reason (hardship/etc)? She has a graduate degree so she's not unemployable and has an expectation of good earnings.
I realized that if I had to pay her approximately $800-900/mth in spousal support (guesstimate based on split of income) in addition to child support, that would be a 16mth term of support to equal the inequitable division of cars.
What's the deal with spousal support in a separation agreement - can it be changed? (she'll have 30k-50k to start over so she's not destitute.
And also, can I put in the separation agreement that regarding the cars, the asset she keeps and liability I assume is in lieu of spousal support and would that make it more binding? Or if she is able to change the spousal support terms, can I change the car terms.
Thanks!
Dan
The kicker is she doesn't want spousal support even though she's unemployed. We have a car worth 10k (paid off) and a another car that's a lease that has 3 years left on it (20k balance owing now plus the '14k payout after year 4). She wants the paid off car (asset), I keep the lease (liability).
I can only afford this if I don't have spousal support to pay. It's essentially 15k in her favour (5k from 1/2 of 10k asset and not assuming 10k from 1/2 of 20k liability).
The question is, if this is all agreed to, including child support and everything, in a separation agreement (done ourselves since we're on good speaking terms and with lawyer review to make it binding), could she get the car, wait a few months then take me to court to try and get spousal support for whatever reason (hardship/etc)? She has a graduate degree so she's not unemployable and has an expectation of good earnings.
I realized that if I had to pay her approximately $800-900/mth in spousal support (guesstimate based on split of income) in addition to child support, that would be a 16mth term of support to equal the inequitable division of cars.
What's the deal with spousal support in a separation agreement - can it be changed? (she'll have 30k-50k to start over so she's not destitute.
And also, can I put in the separation agreement that regarding the cars, the asset she keeps and liability I assume is in lieu of spousal support and would that make it more binding? Or if she is able to change the spousal support terms, can I change the car terms.
Thanks!
Dan
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