Hello all,
Firstly, I’ve been perusing this place for a few weeks now and am impressed at the wealth of knowledge. I hope to be able to contribute my own experience at some point.
Here is my situation.
Cohabitation for 10 years, married for 6.
We own a house and share car debt.
Here’s the situation:
I plan on paying her off (offering a lump sum) following the sale of our house to avoid SS. She is ok with this. Apparently
She seems to think I would have to pay her a ton in SS. She may be correct. I dunno.
The online calculator is fine and I understand that SS is fairly subjective and has a ton of variances.
All that said, what do you guys think? Should I pay her off?
Likely deal is that, out of the $115,000 we would make off the house, she would get $80k, I would get $30k AND take over the car debt (+35k).
Other possibility is that we split assets/car debt down the middle and she tries her luck with SS. Seems like a crapshoot. I don’t want to have to give over $700 for 5 to 10 years.
I’m thinking buying her off is best, as I can just cut the cord as soon as the house is sold.
Here are the facts:
- Cohabitating for 10 years, married for 6
- Both Government of Canada employees
- His base salary is $99,000 per year (though add on 15k with overtime)
- Hers is about $65,000 per year
Any input would be greatly appreciated.
Firstly, I’ve been perusing this place for a few weeks now and am impressed at the wealth of knowledge. I hope to be able to contribute my own experience at some point.
Here is my situation.
Cohabitation for 10 years, married for 6.
We own a house and share car debt.
Here’s the situation:
I plan on paying her off (offering a lump sum) following the sale of our house to avoid SS. She is ok with this. Apparently
She seems to think I would have to pay her a ton in SS. She may be correct. I dunno.
The online calculator is fine and I understand that SS is fairly subjective and has a ton of variances.
All that said, what do you guys think? Should I pay her off?
Likely deal is that, out of the $115,000 we would make off the house, she would get $80k, I would get $30k AND take over the car debt (+35k).
Other possibility is that we split assets/car debt down the middle and she tries her luck with SS. Seems like a crapshoot. I don’t want to have to give over $700 for 5 to 10 years.
I’m thinking buying her off is best, as I can just cut the cord as soon as the house is sold.
Here are the facts:
- Cohabitating for 10 years, married for 6
- Both Government of Canada employees
- His base salary is $99,000 per year (though add on 15k with overtime)
- Hers is about $65,000 per year
Any input would be greatly appreciated.
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