livingalife2009 Posted September 10, 2021 Share Posted September 10, 2021 My husband wants to settle property division out of the court and this is what he proposes. I get a total income of 15k/mo. One property has no mortgage another has about 139k. One of them is worth about 800k another about 700k. I live in our primary home which has a total mortgage balance of about 340k, worth about 700k now, but I must sell it once kids go to college for college funds. Should I negotiate to get some money from the sales so I can buy myself a little condo? The income will pay my expenses but after paying $5000/ in mortgages, 3000/mo in taxes for one of the properties, 1000/ health insurance 2500/mo kids tuition, 1200/mo food, $200/ gas and 350/mo utilities, I'm a little nervous. He gets 1. 4 million worth in properties, mortgage balance 65k, income 11600/mo. His expenses will be about $5166/mo. He keeps 250k in cash I keep 130k. Please tell me if this is a fair division, if not, how much should I ask/give more. I do not want him to worry about money at his age (77) When one of us dies will leave all income to a surviving ex spouse and eventually the children will inherit everything. Link to post Share on other sites
basil67 Posted September 10, 2021 Share Posted September 10, 2021 It's impossible to comment without knowing your financial histories and what the divorce settlement laws are where you live. You MUST get a lawyer to review what he's offering. If the lawyer says it's unreasonable, then your husband will have to either negotiate or go to court. Link to post Share on other sites
Wiseman2 Posted September 10, 2021 Share Posted September 10, 2021 6 hours ago, livingalife2009 said: My husband wants to..... Don't be foolish. Get an attorney. 2 Link to post Share on other sites
mark clemson Posted September 10, 2021 Share Posted September 10, 2021 12 hours ago, livingalife2009 said: I get a total income of 15k/mo. He gets 1. 4 million worth in properties, mortgage balance 65k, income 11600/mo. The nice thing about being rich is you can afford a lawyer to help you settle things this in a way that a judge in your jurisdiction would approve. You wouldn't perform spinal surgery on yourself... Consider that and consider asking them to go right to negotiation since this seems like the rare "genuinely amicable" situation? 12 hours ago, livingalife2009 said: I do not want him to worry about money at his age (77) When one of us dies will leave all income to a surviving ex spouse and eventually the children will inherit everything. One wonders why you're bothering to divorce. (No need to respond, that's just a rhetorical statement. Glad you seem to be being sensible about the finances.) 1 Link to post Share on other sites
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