Considering Divorce

[premchandrank]

What is the name of your state? Illinois

Hi there,

I am considering pursuing a divorce with my wife. We have been married for about six years.

The mortgage is in her name. However, I have contributed equally, if not more to the mortgage for the duration of this marriage. I also helped pay debts off from her previous marriage. We have two car loans in our names. That's about the extent of our assets.

I plan to leave this marriage without anything except my clothes, hopefully, my car, books and my computer.

My questions are 1) Will she have a say in my 401K? 2) Can she claim alimony? 3) Can she force a car payment on me? If she does, do I have a say in the equity I have contributed? I stand to lose the most financially though I do make decent wages.

I want children and the only way that can happen is that if we perform alternative methods, which she has flatly refused. Can that be used for grounds in the divorce?

She currently works. After 9/11, she was laid off and refused to find a job until her unemployment benefits ran out.

I will be getting a lawyer but just want to figure out where I stand before moving out.

Thank you.

Regards,
prem

 

[LdiJ]

What is the name of your state? Illinois

Hi there,

I am considering pursuing a divorce with my wife. We have been married for about six years.

The mortgage is in her name. However, I have contributed equally, if not more to the mortgage for the duration of this marriage. I also helped pay debts off from her previous marriage. We have two car loans in our names. That's about the extent of our assets.

I plan to leave this marriage without anything except my clothes, hopefully, my car, books and my computer.

My questions are 1) Will she have a say in my 401K? 2) Can she claim alimony? 3) Can she force a car payment on me? If she does, do I have a say in the equity I have contributed? I stand to lose the most financially though I do make decent wages.

I want children and the only way that can happen is that if we perform alternative methods, which she has flatly refused. Can that be used for grounds in the divorce?

She currently works. After 9/11, she was laid off and refused to find a job until her unemployment benefits ran out.

I will be getting a lawyer but just want to figure out where I stand before moving out.

Thank you.

Regards,
prem

Your 401K is a marital asset, so the appreciation in the 401K during your six years of marriage will factor into the property settlement. Its possible however (depending on the relative values) that the 401K could be exchanged for the equity in the home. That is not an uncommon arrangment at all.

You will certainly have to make the car payment on the car that you keep. It would be highly unusual for a judge to give you the car but order her to make the payment.

 

[premchandrank]

Hello,

Thank you for your reply. I plan to make the car payment for the car I am driving. But there is another car that she would use and expect me to pay for. I don't believe that is fair at all since I gain nothing nor am interested in gaining anything. She has been pretty much stating that all I have been paying to the house is rent.

Does this mean I do not have to pay alimony or the like?

 

[LdiJ]

Hello,

Thank you for your reply. I plan to make the car payment for the car I am driving. But there is another car that she would use and expect me to pay for. I don't believe that is fair at all since I gain nothing nor am interested in gaining anything. She has been pretty much stating that all I have been paying to the house is rent.

Does this mean I do not have to pay alimony or the like?

Alimony isn't very likely with your length of marriage, however there may be factors that make temporary alimony appropriate.

A property settlement takes all assets and debts into consideration and divides them equitably.