Alimony after 30 years of marriage?

[Cindy50]

What is the name of your state (only U.S. law)? FL

I think my husband will soon be asking for a divorce. We rasied 2 children who are now on their own. I helped my husband start his business 20 years ago, and then eventually became a stay at home mom. I have worked on and off through the years but with only a HS education, have never earned more than $10.00 an hour. I am privey to all bank accounts etc. as I write all the checks to pay house and business bills.

All credit and cars are in my name. Credit is mainly used for business purchases. There are some large balances.

I do not want to fight with him, I am willing to walk away with a car and my clothes. He can have the house, business, and the other vehicle. All I want is enough monthly alimony so I can get on with my life. I would expect him to be responsible for the credit and house payments. I would need about 1500.00 a month and I would work to supplement that income.

Would a Judge agree to this in Florida?

Thanks

 

[Ohiogal]

What is the name of your state (only U.S. law)? FL

I think my husband will soon be asking for a divorce. We rasied 2 children who are now on their own. I helped my husband start his business 20 years ago, and then eventually became a stay at home mom. I have worked on and off through the years but with only a HS education, have never earned more than $10.00 an hour. I am privey to all bank accounts etc. as I write all the checks to pay house and business bills.

All credit and cars are in my name. Credit is mainly used for business purchases. There are some large balances.

I do not want to fight with him, I am willing to walk away with a car and my clothes. He can have the house, business, and the other vehicle. All I want is enough monthly alimony so I can get on with my life. I would expect him to be responsible for the credit and house payments. I would need about 1500.00 a month and I would work to supplement that income.

Would a Judge agree to this in Florida?

Thanks

HOw much debt is there? How much equity in the house? Are the cars paid off? HOw much is the business worth? What type of business is it? How much has the income been on the taxes? How old are you? How old is he? How long do you want alimony?

 

[Cindy50]

Ohiogal,

I am 50 my husband 52. My car is paid for. His truck has less than 2 years of payments left. There is about $30,000.00 in debt on cards.The house has about $50,000.00 equity.....we lost quite a bit this year due to the down turn in realestate values. His business, I really don't know. It's kind of a one man operation. Most of the value is in equipment purchased. As far as showing income on Tax returns.... it probably shows $40,000 income after deductions and business write offs. Our retirement funds were pulled last year so he could get surgery done and pay for continuing education, he is working on his Masters.

Thanks in advance for your replies.

 

[Ohiogal]

Ohiogal,

I am 50 my husband 52. My car is paid for. His truck has less than 2 years of payments left. There is about $30,000.00 in debt on cards.The house has about $50,000.00 equity.....we lost quite a bit this year due to the down turn in realestate values. His business, I really don't know. It's kind of a one man operation. Most of the value is in equipment purchased. As far as showing income on Tax returns.... it probably shows $40,000 income after deductions and business write offs. Our retirement funds were pulled last year so he could get surgery done and pay for continuing education, he is working on his Masters.

Thanks in advance for your replies.

So you would be walking away from 10k in assets however how much is your car worth? He earns 40k. You want almost half of that a year in alimony. I don't necessarily see that happening. You won't get that much. You would be imputed with an income of at least 10k but most likely full time minimum wage -- and then at most you would receive half the difference plus half the debt. Meaning if you earn 10k and he earnes 40 you would be entitled to 25k a year -- 15k from him which is less than your 1500 a month PLUS you would get half the debt load that is in YOUR name. The court is not going to give him ALL the debt and still give you half the income.

 

[LdiJ]

Ohiogal,

I am 50 my husband 52. My car is paid for. His truck has less than 2 years of payments left. There is about $30,000.00 in debt on cards.The house has about $50,000.00 equity.....we lost quite a bit this year due to the down turn in realestate values. His business, I really don't know. It's kind of a one man operation. Most of the value is in equipment purchased. As far as showing income on Tax returns.... it probably shows $40,000 income after deductions and business write offs. Our retirement funds were pulled last year so he could get surgery done and pay for continuing education, he is working on his Masters.

Thanks in advance for your replies.

Don't agree to walk away from anything.

The house needs to be sold, the debts paid off with the proceeds, and any remaining proceeds should be split.

Leave the business alone since its a one man operation.

Your odds of getting 1500.00 a month in alimony are not strong. I suspect that his income for tax purposes has been fudged and is probably more than the tax returns show, but you are somewhat stuck with that. I think that you will be lucky if you get 1000.00, and it may be less, so its truly important that you do not walk away from the home equity.

You may want to go to school yourself.

 

[Cindy50]

Wow, its amazing after 30 years thats all I am worth. I know how much he earns, and what the tax returns actually say. The house would probably sell closer to 280,000.00 and I know the equipment purchased just this year, kodak photo processers, huge flat screenTV for advertising, a huge 50 ton press, video, audio, cameras etc. are worth at least 50K. My car we bought, in 2005 for $30,000 which is paid for has 37,000 miles most of that used in business. He also has a 2005 truck, with $6000.00 left to pay. probably with 50k miles....all for business.

When 7 to 8K sometimes more, runs through the checking account each month, I thought walking away with a car and leaving everything else behind including all the furniture in the house, that $1500.00 a month was not a lot to ask.

 

[LdiJ]

Wow, its amazing after 30 years thats all I am worth. I know how much he earns, and what the tax returns actually say. The house would probably sell closer to 280,000.00 and I know the equipment purchased just this year, kodak photo processers, huge flat screenTV for advertising, a huge 50 ton press, video, audio, cameras etc. are worth at least 50K. My car we bought, in 2005 for $30,000 which is paid for has 37,000 miles most of that used in business. He also has a 2005 truck, with $6000.00 left to pay. probably with 50k miles....all for business.

When 7 to 8K sometimes more, runs through the checking account each month, I thought walking away with a car and leaving everything else behind including all the furniture in the house, that $1500.00 a month was not a lot to ask.

However, that 7-8k is gross, not (net after business expenses and taxes)...and even if its gross, the only way to prove it is to prove that you have been a party to tax fraud.

Since the business has some significant assets, you would be able to claim a share of those, but he would have to take on more debt to do so, and if his current business debt is in your name only, it would appear that he may not be in a position credit-wise to take on debt.

You absolutely are going to need an attorney, and you honestly need to insist that the house be sold to pay off the marital debt...because he is not garnishable, (because he is self employed) therefore its critical to you that the marital debt be paid off. If somehow he doesn't pay in the future (gets hurt, can't work, passes away, decides to stop paying alimony etc.) you cannot afford to have creditors coming after you for the marital debt.

You WILL get alimony, the question is how much and can you be certain to count on receiving it. The answer to those questions are we don't know how much, and no, you cannot count on it.

You want to leave the marriage free of debt, with a car, with hopefully a little bit of cash in your pocket, your personal possessions and some alimony.
You then want to do whatever is necessary to ensure that you don't have to rely on the alimony.

Going to school is one way to do that.