How to reduce loss from expensive gifts?:
I'm thinking of getting divorced from my wife. Both have income. No kids. No house. Lives in a community-property state.
We both have similar incomes but I am more frugal and have saved some money over the years. She spends more and has more debt. After getting married, I bought an engagement ring and some expensive gifts (jewelry, handbags) for her. Now she wants to return all of them to me but I don't want them back. These items depreciate a lot. Even if I can sell them, they are probably worth a small fraction of what I paid. In return, I probably should pay her back in cash or some other assets I own. Any suggestions for handling this situation? How do I protect other assets (saving and retirement) without losing a lot if she wants to return the gifted jewelry in the divorce process?
Richard’s answer: Most marriages settle. The parties themselves come up with a way to do an equitable property division. If you did not have a prenuptial agreement before getting married, you need to be flexible. I would recommend going to mediation and pointing out that the jewelry in question has depreciated in value. If you do not want the jewelry back, then consider an agreement with your wife where both of you take half of the jewelry. Other factors to consider are the length of the marriage. If the marriage is more than 10 years, then you could face liability for long-term spousal support. See if you could get your wife to agree to terminate spouse will support jurisdiction. The way to do so might be to pay her a little bit extra in the property division split.
Do I have to share half of the equity on my house with my spouse on the divorce ?: After getting married I bought my house with my daughter, my spouse is not on the title and she didn’t contribute anything to get the house or pay for mortgages. We getting divorced and we separated 2 years ago. She lived in the house for 2 years and 6 months with me. Not paying for anything related to the house
Richard’s answer:
As it was purchased after marriage, if you don't have a premarital agreement that addresses the situation the house is considered community property.
The percentage of your ownership will depend on how much of the down payment and mortgage payments you can trace to separate property sources. If mortgage payments were made with post-marital income, then your spouse would have a Moore Marsden interest (Google it) in the property. You should have a forensic accountant with family law experience look at the payment history to determine the extent of your spouse's ownership interest.
If husband got a restraining order I live in old house he has a new one canhe come harass me and throw me out?: Restraining order I live in old house he lives in another harassed me
Richard’s answer: It depends on the wording of the temporary restraining order. If it requires you to leave the residence, do so. You should have a Court hearing date at which time you can ask the Court not to make the temporary restraining order permanent, or to allow you to live in the residence while your spouse lives at another property.