MY FIRST MEDIATION THIS WEEK

Get financial tips on divorce and asset division including child support laws, property division, and divorce settlements.

MY FIRST MEDIATION THIS WEEK

Unread postby Cyberbull1 » Mon Dec 05, 2016 12:02 pm

North Carolina, Left home in September. Renting a place. She's in the home has put power bill in her name, I'm still making house payment. We both draw SS, she is half of mine as spouse can draw. I draw a separate pension of 8C. I'm a year older than she. House equity note for 30K, value on tax book 146K. Mediation this week, always from the beginning separate bank account's. I know she is going for the house and the 30K in my 401. Two cars she does not drive. NC 50-50 no fault state. She has told her lawyer all kind of BS. We could not even talk about a separation agreement at all, now we both have lawyer's. I think trading my equity in the house is fair enough to settle, Am I right? I'm 69 she is 68.
Cyberbull1
10+ Posts
 
Posts: 29
Joined: Thu Nov 24, 2016 8:58 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby BartSimpson » Mon Dec 05, 2016 12:18 pm

Please stop YELLING. Certainly you understand that all caps is YELLING on the internet.

This is a simple math question - can you divide by two?

Make a spreadsheet, listing all the assets and debts, and two columns for his and hers.
Play around with the amounts until it's a 50/50 split and you have the assets you want.

If your OP is how you approach it with your attorney, you will spend unnecessary legal fees for the attorney to put it together. If you have a complete and through spreadsheet, then it will be about an hour's time.

Simple math - divide by 2
Volenti non fit injuria
User avatar
BartSimpson
20K Club
 
Posts: 26772
Joined: Thu Jan 24, 2008 8:50 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby Cyberbull1 » Mon Dec 05, 2016 12:25 pm

Sorry on the subject line. Math looks simple hope it is.
Cyberbull1
10+ Posts
 
Posts: 29
Joined: Thu Nov 24, 2016 8:58 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby Cyberbull1 » Mon Dec 05, 2016 12:27 pm

Most of what I read is with children and CS, not a whole lot on oldies alone.
Cyberbull1
10+ Posts
 
Posts: 29
Joined: Thu Nov 24, 2016 8:58 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby BartSimpson » Mon Dec 05, 2016 1:05 pm

Because it's that simple math problem of divide by two.

Are the household possessions in question, also?
Volenti non fit injuria
User avatar
BartSimpson
20K Club
 
Posts: 26772
Joined: Thu Jan 24, 2008 8:50 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby Cyberbull1 » Tue Dec 06, 2016 12:04 pm

I'll probably give the house and all furnishing's up in the end. She will have my equity towards alimony and a equity balance on the house. So she will have to finish the pay off on the home. I'm thinking or that's what I'm hoping for. I have 60k in equity. 46 years in the marriage.
Cyberbull1
10+ Posts
 
Posts: 29
Joined: Thu Nov 24, 2016 8:58 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby BartSimpson » Tue Dec 06, 2016 12:16 pm

That's 50/50 in the spreadsheet?
Volenti non fit injuria
User avatar
BartSimpson
20K Club
 
Posts: 26772
Joined: Thu Jan 24, 2008 8:50 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby Cyberbull1 » Tue Dec 06, 2016 12:20 pm

No, it's over 50%. I just want to get an agreement and move on. Trying to avoid alimony.
Cyberbull1
10+ Posts
 
Posts: 29
Joined: Thu Nov 24, 2016 8:58 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby Chaos » Tue Dec 06, 2016 2:10 pm

Long term marriage, you get twice her ss and have an additional pension that she doesn't. Don't count spousal support out. Did she ever work?
If you can't be a good example, you'll just have to serve as a horrible warning.
User avatar
Chaos
2.5K+ Posts
 
Posts: 2514
Joined: Fri Mar 15, 2013 10:21 pm

Re: MY FIRST MEDIATION THIS WEEK

Unread postby Cyberbull1 » Tue Dec 06, 2016 5:14 pm

Yes she worked off and on, right on the SS. She sells like flea market deals now. The equity in the house is greater and to give it up instead of forcing a refi means a bunch, that's like cash up front now, not spread out over year's we may not have. Plus it would add long term debt to her.
Cyberbull1
10+ Posts
 
Posts: 29
Joined: Thu Nov 24, 2016 8:58 pm

Next

Return to Finances & Divorce Forum

Who is online

Users browsing this forum: dadforever and 6 guests