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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41221
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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Scenario: Married 22 years - Separated 8 and husband has

Customer Question

Scenario:

Married 22 years - Separated 8 and husband has continued to pay all expenses same as in marriage.

Past 3 years have been spent trying to come to a divorce settlement agreement.

Wife wants:
All real properties (which have $1 million in equity)
All life insurance ($1million value)
$12,000 month lifetime spousal support (Husband gross income $300,000)
Retained ownership in 50% of the 3 real estate businesses franchises (Share Valuation $400,000)

Husband wants:
Wife to keep all real properties
Wife to keep 50% of life insurance
Spousal support based on support calculator (Closer to $8,000/month)
Businesses to be husbands

Wife is not willing to negotiate, period. Mediation completely inneffective because wife not willing to negotiate.

If this goes to court, what happens if there is no agreement on terms of settlement, i.e. husband not willing to agree to wife's terms?
Submitted: 3 years ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 3 years ago.
Thank you for your question. Please permit me to assist you with your concerns.

What other business interests or assets remain? Based on my calculation the spoue is seeking greater than 50% of the share, are there any other assets the parties are in agrement about?
Customer: replied 3 years ago.

Wife works very part time - $800/week - doesn't want to work.


 


Husband works full time in real estate sales. There are no other assets per se other than the businesses, the real property, the life insurance policies, and retirement accounts which wife is asking for 50% of.

Expert:  Dimitry K., Esq. replied 3 years ago.

Thank you for your follow-up, Rick.

If the parties do not agree the courts tend to attempt to split all assets 50/50 provided those assets were all earned while married. The retirement account, for example, if it was solely earned and started while married, she is entitled to half under California law. If there is 'separate property' assets in that account, then those assets revert back to you and remainder is split between the parties. Same with real property or other assets. If the parties cannot agree that would be the judge's approach along with other attorneys to literally split everything possible in half unless there is evidence the asset was either separate and pre-marriage, the asset was an inheritance, or there is a prenup or other manner of alternative agreement in place denoting the split to be otherwise (which is essentially what you are trying to create here).

Good luck.

Customer: replied 3 years ago.

Thank you for your reply. After the division of assets 50/50 what would happen in the case of the spousal support? She wanting $12,000 for life when the amount due is closer to $8,000?

Expert:  Dimitry K., Esq. replied 3 years ago.

Rick,

You are most welcome. With spousal support the courts look to both guidelines and also to the potential expected lifestyle positions of both parties. If the amount she is requesting is unreasonable, the courts would cut it, but expect your alimony to be close to around 13% of 15% of the difference in income. Plus, it may be wise to put in language denoting that upon retirement you would have a right to file with the courts and seek a modification of payments based on change in circumstance (ie, your retirement).

Good luck.

Customer: replied 3 years ago.

What do you mean by 13-15% the difference of the income?

Expert:  Dimitry K., Esq. replied 3 years ago.

Rick,

The rule of thumb of an estimate of alimony is about 13-28% of the difference in come between one spouse and the other. You mentioned you make $300,00 a year. She makes about $41,600 a year. The difference, or $258,400, is what is used to calculate support. The higher the disparity the lower the percentage paid out, and in a case of $258,400, the amount you would likely be required to pay out is about 13-15%, which is closer to $36,000 a year, NOT close to 144k that she is seeking as that would be half of the income of the spouse and not equitable. Giving her $8,000 is exceedingly generous.

Good luck.

Customer: replied 3 years ago.

She only makes $800/month because she works as a hobby - that's closer to $9,000 year in income to her - do these percentages still apply?

Expert:  Dimitry K., Esq. replied 3 years ago.

Rick,

I provided you the percentages based on the difference in income--I took her income in as part of the estimate.

Good luck.

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