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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
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Inheritance was kept in a separate account. I think it is safe, she has almost zero chance of getting it. Quote:
Agreed 100% with every paragraph. |
#12
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Is a separation agreement mandatory or can we just skip that if we both don’t want to bother?
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#13
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Im not sure how the inheritance plays into it, but outside of that you must , legally , split all assets 50/50. I think you have to have a separation agreement, otherwise one of you can go back and say reopen the whole can of worms, and you have to each have independent legal counsel, or similarly one of you can go back and say it wasn't fair. Of course you can agree to something different. I would decide based on how much the dog was worth to you, (I personally would never bother fighting over a dog) and how much money you are willing to spend on lawyers feeds to get 45000. I have thus far spend about 15000 and still don't have a separation agreement finished, still negotiating and probably end up going to preconference, which will be at least another 5000, and if you go to full trial I am told that is easily another 10000. Right now I am deciding if going to pretrial is worth it financially.
to determine equity in the house, you get it appraised by an appraisal company (for the purpose of divorce, as there are different kinds of appraisals). YOu need to know how much it is worth today. Then subtract your mortgage from that. That is your equity. Then you make up alist of all your assests and debts and you figure out what the total value is and you each get half of that. usually one person pays out the other person, usualy the person who keeps the house, and that person has to qualify for the mortgage on their own accord. The bank is not going to let anyone take over the mortage until they see the separation agreement regarding who is getting the house. if no one can afford to take on the mortgage or doesn't want to you sell the house. And since you were both silly enough to sign onto a new 5 year mortgage you are going to have some really stiff prepayment penalties!!!!!! Why didn't you just take out a 1 year open mortgage??? you are going to pay waayyy more in mortgage penalties that you are on the slightly higher interest rate of an open mortgage! I would guess you each pay half of that penatly |
#14
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You cannot come to an agreement now, so your plan is to not come to an agreement and fight over it later? Are you serious? To answer your question: It is not mandatory. However, not having one is insane. |
#15
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What she says or calls you is immaterial. You're getting divorced and she can be as hostile as she wants...it has zero to do with your split and I GUARANTEE you that you will regret not getting half the equity in your house at some point in your future. Whether or not she can keep the house is her problem. She can figure out the refinancing after buying you out ...or not. What you should be doing is asking that she tries to get approved for refinancing and if she can't, that the house be sold and you split the proceeds. As for the dog, I have pets and I love them very, very much. But the only way I'd truly fight over an animal is if I was concerned that she would neglect or abuse the animal. If not and the animal will have a good home with both of you, I'd make the concession to let her keep the dog and purchase a new one. To me, its not worth arguing about unless you're concerned for the dog's safety or emotional health. But ultimately, that's your call. But the financial stuff is an easy decision to me. Take your half...ignore her and her lawyer...move on with life. |
#16
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Agreed. You have a home together, you need an agreement. Get it done, get it writing, split everything right down the middle (including the household contents).
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#17
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can't we just request divorce only and just not request equalization? Then we are free to do whatever we want? Or do the courts force equalization even on a joint divorce? |
#18
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I take it that maybe you want it rushed in order to get married again? That is the only reason I can think of. |
#19
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Sure you can but without an agreement even after the divorce she can come back on you and request whatever she wants. I’m not sure what you’re not understanding from the posters here. You are setting yourself up to be screwed. You need an agreement to protect yourself in the future. But hey if you think you can trust this woman you has threatened to go after your inheritance and keep the dog if you don’t do what she says then trust her... why keep posting the same thing over and over again? Sent from my iPhone using Tapatalk |
#20
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I appreciate everyone’s comments. I think I’ll get in touch with a divorce lawyer and see about getting a separation agreement. I didn’t want to spend the couple thousand but the peace of mind will be worth it down the road. I agree, at this point I’m just being repetitive.
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