I wanted to open up a thread about spousal support and its justification.
Specifically here is the scenario that I would like comments on (note this is not my situation).
Two people are married for 10 years, they have two kids, age 8 and 11.
When they met they had essentially no assets, no debts, one had a graduate degree, the other an undergraduate degree, and both were working in their chosen careers.
During the marriage, neither stopped working and followed unincumbered along their career path, except for equal parental leave when their children were born, they both did about the same work around the house and raising the kids. They owned a house with a mortgage, had some savings and debts, and retirement acounts. Despite this nice life on paper they decided to divorce.
They divided all there assets/debts equally, sell the house, and each retained 50/50 custody of the kids. They each end up with $120K in assets.
One spouse makes $90K per year, the other $45K per year.
For child support (CS) they use the 'offset method' where the greater income earner pays the lessor income earner the difference in their child support guideline table amounts. So in this case for Ontario, the table amounts are $1281 and $680, so the greater income earner pays the other $601/month for CS. Section 7 expenses are paid relative to their incomes so the greater income earner pays 2/3 of section 7 special expenses, and the lesser income earner pays 1/3. They decide to adjust the CS amounts and special expense ratio every July when they get their tax returns processed.
What do you think is fair in this situation with respect to spousal support (SS) and for how long? One income earner makes twice as much as the other.
a) none?
b) split money between households evenly?
c) SSAG (what ever it would calc I do not know, but I think essentially b?
d) some other answer you have?
Also, does the size of the difference between their incomes come in to play to decide if SS is warrented? Rember their CS method is supposed to balance the money between the households that is avaiable for rasing the children, so this is just about SS, but if you think that is a factor then let me know.
Looking forward to your comments!
Specifically here is the scenario that I would like comments on (note this is not my situation).
Two people are married for 10 years, they have two kids, age 8 and 11.
When they met they had essentially no assets, no debts, one had a graduate degree, the other an undergraduate degree, and both were working in their chosen careers.
During the marriage, neither stopped working and followed unincumbered along their career path, except for equal parental leave when their children were born, they both did about the same work around the house and raising the kids. They owned a house with a mortgage, had some savings and debts, and retirement acounts. Despite this nice life on paper they decided to divorce.
They divided all there assets/debts equally, sell the house, and each retained 50/50 custody of the kids. They each end up with $120K in assets.
One spouse makes $90K per year, the other $45K per year.
For child support (CS) they use the 'offset method' where the greater income earner pays the lessor income earner the difference in their child support guideline table amounts. So in this case for Ontario, the table amounts are $1281 and $680, so the greater income earner pays the other $601/month for CS. Section 7 expenses are paid relative to their incomes so the greater income earner pays 2/3 of section 7 special expenses, and the lesser income earner pays 1/3. They decide to adjust the CS amounts and special expense ratio every July when they get their tax returns processed.
What do you think is fair in this situation with respect to spousal support (SS) and for how long? One income earner makes twice as much as the other.
a) none?
b) split money between households evenly?
c) SSAG (what ever it would calc I do not know, but I think essentially b?
d) some other answer you have?
Also, does the size of the difference between their incomes come in to play to decide if SS is warrented? Rember their CS method is supposed to balance the money between the households that is avaiable for rasing the children, so this is just about SS, but if you think that is a factor then let me know.
Looking forward to your comments!
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