My husband and I are in the process of filing for divorce. We have been trying to be as friendly as possible but I have been worried about agreeing to anything. We were married for 19 years and had been in our home for 15 of those years. His income is approximately $65,000 while mine is $30,000. He is currently living in the home, while I am staying somewhere else until we can come up with an agreement. I cannot afford this home on just my income. I have been looking for an apartment for my son and I, but will not be able to afford a two bedroom on my own. He said he is willing to buy me out from the house. I was just wondering what I would be entitled to for that agreement and also what else I would be entitled to. I want to be fair and try to make this a somewhat friendly split.
There are many more facts that need to be known to answer this question competently. Divorce settlements are complex matters. An attorney will be able to ensure that your rights are protected. Good Luck.
What you are describing is called an "equitable distribution", which is pretty much what it sounds like. When it comes to divorce, the courts aim to split the marital property as fairly as possible. In a case like yours where you have been married for well over a decade, share a home, and have a child, you are entitled to as close to an even split of the property as is feasible. This can be accomplished with a mix of asset allocation and alimony payments. The details of the distribution depends on your lifestyle preferences going forward and will take into account your incomes and custody issues, among other things.
It appears you are trying to maintain an equitable distribution of assets, to which you are entitled. It is not indicated, but it does not sound as though you have legal counsel. It would be advisable to secure legal counsel to protect your rights. There are things that you may not be thinking about right at this moment, that an attorney would bring up to you, such as retirement or pension benefits. While being cooperative is very important, so is protecting your interests for both you and your son.
This answer is not "legal advice" and should not serve as a substitute for the advice of an attorney who is licensed in your applicable jurisdiction. The statements provided herein are for informational purposes only and the recipient of these answers assumes all risk and expressly agrees to seek the advice of the appropriate counsel for his or her situation. Should any formal legal advice be sought, or an attorney-client relationship be sought by recipient with this attorney, the recipient should contact Family First Law Offices by hitting the contact attorney buttons above.
You really should talk to a competent attorney. You may or may not be entitled to: (1) Temporary Alimony, (2) Alimony, (3) if your husband buys you out of the house, you would be entitled to half ins equity, and of course, (4) child support.
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