Divorce! please look inside

[FlySi]

my friend is going through a rough time right now, getting divorced. hes only been married for 1 year now, so they dont have a lot but i'd like to ask for some advice from those who have been through this. right now, they are just separated so hes not at the point of getting a lawyer. we are wondering about the division of assets and he wants to ask those who have been there or have experience in this matter.

he got married june 2005. they bought a house together at that time. she left him in december 2005. so basically, they lived together for about 6 months, and she's been gone for 5 now. he's made all of the payments on the house/bills/everything since that time. our question is, is she still entitled to 50% of the gains on the house (since its gone up in value considerably) or is she only entitled to 25% since she only made payments on the house for half the time that they've owned it?

has anyone gone thru this? can anyone give some advice to him? he isnt ready to hire a lawyer just yet because they are still talking and might get back together, but if they don't how does it work? does he have to make payments forever and she can move in and take 50% anytime she wants without contributing a penny? she doesn't live with him anymore and hasn't helped since she left with a single bill or payment.

[in*10*se]

50/50 split, its that simple.


eff'n sell the house if he can't do it on his own.

[rage2]

It's not a 50/50 split. It's a 50/50 split of assets at the time of marriage. If he was worth $300,000 at the time of marriage and at the time of separation he was worth $350,000, only $50,000 is subject to the 50/50 split.

The best (and cheapest) thing to do is to work with his spouce and find a common ground on how things should be split. Then do a uncontested divorce. If you're going to fight over small shit, lawyer fees will kill you.

As for the house, same thing applies. If he went into the marriage with a house with $100,000 equity and at time of separation it's got $200,000 equity (damn calgary real estate) she's entitled to half of the gains, $50k. If he can afford to pay her with cash there, it makes things a lot easier. Otherwise, he'd have to sell the house and take $150k while she takes $50k. Same goes vice versa if she came into the marriage with the house.

Make sure he knows when the date of separation is, because everything that's to be split is assets and capital gained from the day of marriage to the day of separation.

Good luck, and hopefully he has a decent relationship with the ex, it makes things a LOT easier.

[FlySi]

o hes doing fine with the payments himself, but is she still entitled to 50/50 if he's made 75% of the payments and she doesnt even live at the same place as he does?

[rage2]

Originally posted by FlySi
o hes doing fine with the payments himself, but is she still entitled to 50/50 if he's made 75% of the payments and she doesnt even live at the same place as he does?

Yes. I added more to my last post in regards to house, and how to calculate value of gains.

[max_boost]

Originally posted by rage2
It's not a 50/50 split. It's a 50/50 split of assets at the time of marriage. If he was worth $300,000 at the time of marriage and at the time of separation he was worth $350,000, only $50,000 is subject to the 50/50 split.

The best (and cheapest) thing to do is to work with his spouce and find a common ground on how things should be split. Then do a uncontested divorce. If you're going to fight over small shit, lawyer fees will kill you.

Interesting. So 50/50 split is based on the net worth after they get married. I didn't know that!

Anyway, just found out a buddy of mine got divorced awhile back. He came to an amicable agreement with the ex, basically just gave her the house.

Man that still sucks though. It's like starting over again! I've already made my provision prior to marriage, my gf ain't touching my house. I will burn it down before I hand it to her. j/k hehe

[rage2]

Originally posted by max_boost
Man that still sucks though. It's like starting over again! I've already made my provision prior to marriage, my gf ain't touching my house. I will burn it down before I hand it to her.

haha I can't wait till she reads this one .

A pre-nup is common these days, mostly because divorce lawyers are fucking animals and get both sides to fight each other so they make more money, especially when emotions keep both sides from making sane decisions. A pre-nup might not be very romantic, but it protects both sides in the case of separation if things don't work out, and you can decide all this without emotional bias. One person will always be without a home after separation so it's good to plan ahead as to what happens shall the marriage fail.

In the case of my divorce, we wanted it to be uncontested, but our lawyers aren't helping... they'll add shit to piss the other side off and cause more revisions to the agreements, arguing over nothing, pure waste of time and money. There are some lawyers that just do purely uncontested divorces to make things easier if both sides agree, I should've taken that route but I didn't know at the time.

[max_boost]

Yup! She knows, it's all good. I don't buy the whole, 'you don't love me, why does it matter blah blah blah crap'. Anything can happen. Protect yourself

[leec001]

Basically 50/50 split the house price when you seperate.
It is a little complicated if you keep the house:

When married $20000 downpayment for house (50/50 Split)
Seperate $350000 market price of house (50/50 split)
Minus $275000 (assume) you owe the bank (50/50 split) when you seperate.

You have to give her $350000/2 - $275000/2 + $20000/2 = $47500 in total

[leec001]

I would say better sell it.......unless you have $$$$$$$$$ cash.

[rage2]

Banks can usually help out in cases of divorce (assuming you have some equity in the house before the marriage) to allow the richer party to keep the house while the other party gets their fair share.

If you bought the house at the time of marriage (or after), then it's a pure 50/50 split... unless part of the equity was a wedding gift to only 1 person (ie parents wedding gift to daughter was downpayment on the house even if purchases months or years after) in which case the equity of the downpayment solely belongs to the wife and the calculations would be pretty much what leec001 posted a few posts up, except the downpayment doesn't get divided ($37500).

[in*10*se]

Originally posted by max_boost



Man that still sucks though. It's like starting over again! I've already made my provision prior to marriage, my gf ain't touching my house. I will burn it down before I hand it to her.

best post evar!

[in*10*se]

Originally posted by rage2
It's not a 50/50 split. It's a 50/50 split of assets at the time of marriage. If he was worth $300,000 at the time of marriage and at the time of separation he was worth $350,000, only $50,000 is subject to the 50/50 split.

The best (and cheapest) thing to do is to work with his spouce and find a common ground on how things should be split. Then do a uncontested divorce. If you're going to fight over small shit, lawyer fees will kill you.

As for the house, same thing applies. If he went into the marriage with a house with $100,000 equity and at time of separation it's got $200,000 equity (damn calgary real estate) she's entitled to half of the gains, $50k. If he can afford to pay her with cash there, it makes things a lot easier. Otherwise, he'd have to sell the house and take $150k while she takes $50k. Same goes vice versa if she came into the marriage with the house.

Make sure he knows when the date of separation is, because everything that's to be split is assets and capital gained from the day of marriage to the day of separation.

Good luck, and hopefully he has a decent relationship with the ex, it makes things a LOT easier.

that's what i meant, 50/50 of the gains.... i was just too lazy to write it...

[projekz]

Originally posted by max_boost


Interesting. So 50/50 split is based on the net worth after they get married. I didn't know that!

Anyway, just found out a buddy of mine got divorced awhile back. He came to an amicable agreement with the ex, basically just gave her the house.

Man that still sucks though. It's like starting over again! I've already made my provision prior to marriage, my gf ain't touching my house. I will burn it down before I hand it to her. j/k hehe

A friend of mine said the same thing about burning the house down...His ex did when she found out he was keeping the house...

[soupey]

Originally posted by projekz


A friend of mine said the same thing about burning the house down...His ex did when she found out he was keeping the house...

hahahaha ouchhh

go for 50/50....get half the assets...one boob.

[Alex_FORD]

Originally posted by soupey


hahahaha ouchhh

go for 50/50....get half the assets...one boob.

Thats what most of us ever get while we're married!!!

[murrayskeeter]

Original Post Removed. (Please read the Forum Rules and Terms of Use before posting again, or risk getting banned).

[Tik-Tok]

Awesome, another useless 4 year old bump

[thetransporter]

Originally posted by FlySi
my friend is going through a rough time right now, getting divorced. hes only been married for 1 year now, so they dont have a lot but i'd like to ask for some advice from those who have been through this. right now, they are just separated so hes not at the point of getting a lawyer. we are wondering about the division of assets and he wants to ask those who have been there or have experience in this matter.

he got married june 2005. they bought a house together at that time. she left him in december 2005. so basically, they lived together for about 6 months, and she's been gone for 5 now. he's made all of the payments on the house/bills/everything since that time. our question is, is she still entitled to 50% of the gains on the house (since its gone up in value considerably) or is she only entitled to 25% since she only made payments on the house for half the time that they've owned it?

has anyone gone thru this? can anyone give some advice to him? he isnt ready to hire a lawyer just yet because they are still talking and might get back together, but if they don't how does it work? does he have to make payments forever and she can move in and take 50% anytime she wants without contributing a penny? she doesn't live with him anymore and hasn't helped since she left with a single bill or payment.

what area in this house in ? is it a newer home in the nw?

[Tik-Tok]

Originally posted by thetransporter

what area in this house in ? is it a newer home in the nw?

Since most beyonders don't read past the first line, I'll bold this one
It's been 4 YEARS SINCE THE OP