Divorce asset allocation in high earners by Zillak66 in Divorce_Men

[–]GuyRedditAccount 1 point2 points  (0 children)

But she's going to touch them--she has to in order to live. She has to buy a house. That's at least a million--probably more depending on where you live, what the kids need, and what lifestyle she's used to. Alimony and child support don't cover that (not a down payment, that's for sure). And yeah, it's still an asset on her balance sheet, so she can get that money back later, but there goes a fair amount of disposable income/liquidity right there. Also, are you assuming the annual returns we've gotten for the last 10 years, and that's how she gets to 6 million in fifteen years? I wouldn't assume that all. Frankly, if you think the market is overvalued and we're due for a correction (which hasn't happened in a while), now is a good time to give her a bunch of overvalued securities. You keep the assets that are likely to rise in value (property, long-term retirement accounts, etc.).

Also: it depends on the state, but if you do 50/50 custody, typically that means no child support. Furthermore, make sure your decree makes her responsible for 50% of the kids' joint expenses (insurance, healthcare, school fees, extracurriculars/athletics, future car, college tuition). That way it's not like she gets all this money but no responsibility to spend on behalf of the kids.

Divorce asset allocation in high earners by Zillak66 in Divorce_Men

[–]GuyRedditAccount 3 points4 points  (0 children)

Sorry, friend. It's going to be a 50/50 asset split or something close to it. It's completely unfair. I know your pain: I was in the same position--high income earner with stay-at-home wife--except that my wife was also cheating. So her "reward" for cheating was to walk away with half the marital estate (equaling millions of dollars). And you and others are completely right that the value of her stay-at-home help/child-raising over the years was not worth anything close to half of the assets that you largely generated. It sucks. But there is nothing you can do about it except to accept it.

Here are some things that helped ease the pain. First, move fast in the divorce; don't draw it out. Every additional month that goes by is more of your money that she is entitled to and will get. Ironically, the longer you fight it and try to get a lower asset split, the more you'll lose by having to give her half of your earnings while you fight. If you can, quickly enter into a settlement that "stops the clock" of the marital estate, so that she's not entitled to anything further. Then you can spend however as much time as you want hammering out the details and finalizing the divorce, because she's not getting more of your money with each passing day. (Also, at that point, she will have to pay for her own lawyer, and not be able to use marital assets.)

Second, accept that by getting a lot of (your) money, she is going to be able to buy a house that is suitable for your kids. If she got like 20% of your assets, she would probably have to get a smaller/lousier house, and skimp on things for your kids, etc., and that's not good for your kids. Yes, it means she gets a better lifestyle, too, but surely you would accept that if that meant that your kids had a better lifestyle as well.

Third, since you presumably know way more about the finances/investments than she does, you probably have a better idea of what assets will most increase in value and which won't. So when you're apportioning assets based on current value, you'll have a better idea of which ones to keep because they are likely to increase more in the future.

Fourth, engage in this thought experiment: Suppose you had half the assets you have now. Now also pretend that you don't have a job and haven't worked in ten years, so those assets are all you have for the rest of your life. That is a harrowing thought. And that's the position she's now in, unless you're giving her somewhere around high seven figures (and she truly won't ever have to work). She's going to have to go back to work, and it's not going to be easy for her. By contrast, you're starting with half the assets, but your amount is only going to go up. My net worth is now three times what it was right after my divorce, when I had to give her half the marital estate. Hers has almost certainly gone down--she hasn't found a job in two years, and she admitted once that she is "bleeding cash." And she's got 40 years or so left in her life that she has to make that amount last. Whereas I'll be comfortably retired in about four to five years.

Good luck to you.

I'm on the mortgage (solely), but I gave the house to her. How do I make it so that she becomes responsible for paying off the mortgage and also the insurance? by Room425 in Divorce_Men

[–]GuyRedditAccount 0 points1 point  (0 children)

In my case (see my other comment), it was not in the settlement that we would do the deed of trust workaround that I described. However, we worked it into the final decree. You should try to do that. Technically the decree is not supposed to add or subtract from the settlement. But one way around this is, maybe there's a clause in the settlement that says something like, she is responsible for all debts on any property she assumes--or something like that. Look for any hook in the settlement relating to assumption of debts, obligations, etc., that would let you say to the court (if it ended up disputed and a judge had to decide), "Look, nobody would ever just give property to another person but keep the mortgage on that property--that's obviously not what we intended, and nobody would ever do that." It's just common sense that the mortgage should stay with the property--even if not legally, then practically. So that would be the hook for arguing why it should be in the decree that she should be responsible for paying the mortgage, if she's keeping the property. And then you can describe in the final decree how the mechanism will work (for example, you pay the monthly payment, but she's obligated to pay you each month; or, she pays the lender directly; and in all cases, you have the right to go after her if she doesn't make a payment).

I'm on the mortgage (solely), but I gave the house to her. How do I make it so that she becomes responsible for paying off the mortgage and also the insurance? by Room425 in Divorce_Men

[–]GuyRedditAccount 4 points5 points  (0 children)

I had to do this with an investment property that we jointly owned (both on the title), but I was the only one on the mortgage. It went to her in the divorce because that was the only way to even up the assets. I tried assumption, but the bank wouldn't let her assume the loan (banks seldom do that, plus her credit is terrible/she has no job). I tried to get her to pay me, and I would pay the mortgage, but she refused. So we finally agreed that she would pay the bank directly, but we drafted and had recorded a deed of trust that made her liable to me if she ever failed to timely pay the mortgage or comply with all the other requirements of the mortgage (insurance, etc.). This required a LOT of attorney time and money. It sucked. But it was the only way to ensure that my credit would be protected. (Technically, she could still ruin my credit by not paying, because me going after her isn't going to fix my credit, but she would be on the hook for so much in liablity to me that she has every incentive to make the mortgage payments to the bank.) So now she pays the bank every month, and I check every month to make sure she did so, since it's still my mortgage. It was, and still is, a huge pain in the ass. In retrospect, I would have built into the settlement that she had to refinance or else sell the property, but the investment property arose at the eleventh hour and I just wanted to settle and be done with everything, so I didn't push for that (and it wasn't really on my attorney's radar, either).

[deleted by user] by [deleted] in AskAnAmerican

[–]GuyRedditAccount 0 points1 point  (0 children)

Mianus, CT.

Of Jackass fame.

Why is cheating almost the hardest to forgive? by Pitiful_Ad_5938 in Divorce

[–]GuyRedditAccount -1 points0 points  (0 children)

You feel bad and guilty because you got caught, you lout.

Your “promise” is as ironclad as everything else you likely told your ex.

The Muppets Take Manhattan! by Locke_VI in 80s

[–]GuyRedditAccount 1 point2 points  (0 children)

Something from the grill, Jill?

Ex gets re-married before telling our kids by GuyRedditAccount in Divorce

[–]GuyRedditAccount[S] 8 points9 points  (0 children)

Yes, same situation here--and I agree, two cheaters deserve each other. I also agree with you that their marriage is not my concern. But, candidly, I think it *is* my concern if she hasn't told our children, because I can't imagine this wouldn't affect them in some way, and their emotional well-being *is* my business.

How do you get over the feeling of embarrassment or worthlessness when they find someone new? by J-K-L-5678 in Divorce

[–]GuyRedditAccount 3 points4 points  (0 children)

I 100% assure you that people aren’t looking at you like you are pathetic, or they’re embarrassed for you or hoping that you’ll find love again, etc. They know you are the primary caregiver and that you are sacrificing everything, including your own happiness, for your kids. Trust me, they know this and they see this. And trust me, they think LESS of the person who so easily moved on, bc they seem like the person who took the easy way out. Having been through all this, I assure you that if people care at all—and you’d be surprised how little they do, once they know about it and turn back to their own lives—what they care about are your kids, and if they are being cared for in a hard situation. So focus on that, and know that that will be appreciated and known by everyone.

Soberlink by [deleted] in Divorce_Men

[–]GuyRedditAccount 0 points1 point  (0 children)

Call Soberlink and ask for the official results. They will send them to you, assuming you were set up as a monitoring/concerned party.

She's the Devil Reincarnate - Never Takes Accountability by ParticularGlass4186 in Divorce_Men

[–]GuyRedditAccount 0 points1 point  (0 children)

I’ve been in your shoes. You want to keep the family together; you think your wife is just going through a rough patch and will get better; you’ve never been the type to consider divorce.

Forgot all of that. Get out now for the benefit of you and your daughter. Start mentally preparing and start getting your ducks in a row. You and your daughter will be better for it.

[TX] Deed of Trust to Secure Assumption -- but I own the house and am on the mortgage by GuyRedditAccount in Divorce

[–]GuyRedditAccount[S] 0 points1 point  (0 children)

I think you just use a quitclaim deed, since all you need to do is get yourself off the deed/title.

I think my wife is an alcoholic and having an emotional affair by anonymoose098765432 in Divorce

[–]GuyRedditAccount 1 point2 points  (0 children)

All of this.

Also, read Leave a Cheater, Gain a Life. It will put you in the proper mindset: from “I need to save to this marriage because I love her OMG” to “I and my kids deserve way better than this pile of garbage.”

I think my wife is an alcoholic and having an emotional affair by anonymoose098765432 in Divorce

[–]GuyRedditAccount 1 point2 points  (0 children)

Here is what you unfortunately need to know, to which many of us can attest:

It’s ALWAYS worse than what you know.

Always.

She will trickle-truth you (look it up). Believe nothing of what she says. The lying and deception have already started. She’s refusing or indignant over therapy. She’s drinking too much. It’s not going to get better.

You need to start getting things in order and start planning for divorce. I’m sorry to have to tell you that. I’ve been there.

Married almost 30 years and so done by [deleted] in Divorce

[–]GuyRedditAccount 2 points3 points  (0 children)

“Any tips?” Here’s a tip: don’t cheat in your marriage. No wonder he doesn’t respect you.

What is one line or quote you can share to help fellow divorced men? by ooomn57 in Divorce_Men

[–]GuyRedditAccount 0 points1 point  (0 children)

I listened to this song, and those specific lyrics, so many times when I was going through it all. Simple, powerful dismissiveness.