SC Separation

[separated_SC]

What is the name of your state? South Carolina

My wife and I are separating after 4-1/2 years of marriage, no children.
We have agreed on the terms and conditions of the separation (who gets the house, cars, furniture, etc.)
I am worried that the agreement looks lopsided in my favor and the judge will say that it is not fair.

We purchased a new home 6 months ago ($220k mortgage held by my grandmothers trust. I have made all of the mortgage, interest, and tax payments) she has paid only the utility bills. She has moved into an apartment and will sign over full ownership in the home to me.

My father bought her a car (titled in both our names) she sold it bought another, then traded as down payment for current vehicle. She will retain her vehicle (aquired during the marriage) $15k bank note cosigned by her father

I had my car before the marriage the note is now paid off. (I will retain)

She will retain approx $11k jewelry I bought during the marriage.

I will retain all furniture that I had before the marriage.
My grandmother wrote checks to me and to us on occasion for a total of approx. $15000 we bought furniture etc most of this (furniture, household goods, etc) will be spit 50 50.

She ran up $5000 in credit card bills and took $1000 from our savings and $3000 from her retirment account on Expensive Clothes for herself. She hid all of it from me. When I found out she said that I will not regulate her spending that I am not her father. She has agreed to be responsible for all of the credit card debt. (the savings etc I just consider an expensive education)

I have an income of $48k
Hers is $40k

What do you think?

 

[trustknow1]

I think if you end up making your humanitarian move, I would put taking the credit card debt a priority. I took all of the credit card debt, even though it was all my ex's spending. If your ex does not pay, they will then come after YOU.

I took the debt to make sure I was in control of my credit future, not the ex.

 

[LdiJ]

What is the name of your state? South Carolina

My wife and I are separating after 4-1/2 years of marriage, no children.
We have agreed on the terms and conditions of the separation (who gets the house, cars, furniture, etc.)
I am worried that the agreement looks lopsided in my favor and the judge will say that it is not fair.

We purchased a new home 6 months ago ($220k mortgage held by my grandmothers trust. I have made all of the mortgage, interest, and tax payments) she has paid only the utility bills. She has moved into an apartment and will sign over full ownership in the home to me.

My father bought her a car (titled in both our names) she sold it bought another, then traded as down payment for current vehicle. She will retain her vehicle (aquired during the marriage) $15k bank note cosigned by her father

I had my car before the marriage the note is now paid off. (I will retain)

She will retain approx $11k jewelry I bought during the marriage.

I will retain all furniture that I had before the marriage.
My grandmother wrote checks to me and to us on occasion for a total of approx. $15000 we bought furniture etc most of this (furniture, household goods, etc) will be spit 50 50.

She ran up $5000 in credit card bills and took $1000 from our savings and $3000 from her retirment account on Expensive Clothes for herself. She hid all of it from me. When I found out she said that I will not regulate her spending that I am not her father. She has agreed to be responsible for all of the credit card debt. (the savings etc I just consider an expensive education)

I have an income of $48k
Hers is $40k

What do you think?

To be honest....on its face this agreement does seem quite lopsided....lopsided in your favor.

The jewelry was gifts from you to her.....those aren't marital assets.

What you need to be doing is adding up the total value of your debts and the total value (equity) of your assets and divide by 1/2.....then compare to the agreement that you have made. We can't do that, because we don't know how much equity you have in the home, nor the equity in the cars, nor the equity in your respective retirement accounts.

 

[separated_SC]

That is what I thought, but she keeps on insisting that because she is the one who is leaving even though she is comfortable and could go through the rest of her life with things like they are and I am extremely good to her there is something missing she says she is "just not happy"
Because of that and the fact that the majority of things that have been aquired during the marriage were due to gifts or money from my family she said that she does not feel right taking half of everything, I offered much more than she is taking.
There is no equity in the home, we paid $220 and mortgaged $220 if we sold it then paid comissions there would be a negative of approx $13,000.
There is no equity in her auto.
Mine was aquired before the marriage.
We both have TERRIBLE CREDIT (one of the reasons my grandmothers trust hold the mortgage) Mine before the marriage hers after.
She can't get an apartment in her own name hers is so bad.
So if by taking sole responsiblilty for the mortgage and my assuming a negative equity would that be a more equitable split?

My retirement accounts have approx. 10,000. All but 2500 contributed before we were married.
Hers nothing because she cleaned it out to go clothes shopping and lost quite a bit of unvested matches.

My vehicle about $6000 equity.

 

[separated_SC]

Any more thoughts given the additional info?

 

[LdiJ]

Any more thoughts given the additional info?

With the additional info, it certainly looks far less lopsided. The home has no equity, and it can be argued that there is a negative equity.

There is 2500.00 in your retirement account and 6000.00 in equity in your car that isn't being equitably divided, however the potential negative equity in the home could net against that.

I doubt if you are going to have any kind of problem.