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#1
07-31-2005, 11:34 PM
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Voluntary Divorce in CAWhat is the name of your state? CA My wife filed for divorce and served me with the court papers 4-5 months ago. I have not filed an answer with the court and have not heard from the court as to why no answer has been filed. My wife on her part has done nothing either. My wife and our 2 kids live together at this time in our house. Is it possible without involving a lawyer for me to do the following: 1. Sign our property in her name by relinqueshing any rights I may have to the said property. The property is worth approx $750000 and we owe $200000 to pay it off. 2.Pay alimony including child support. I think I can afford a maximum of approx $1000-1200 per month. My income is approx $46000 per annum but I may get another job soon that will pay $60000. My wife's income is approx $48000 a year. Based on our income, is the $1000-1200 per month for alimony and child support enough or too little. 3.I also have a life insurance policy and 401k plan with my company under my name. Can I still keep my wife's name as the primary beneficiary after the divorce goes thru. 4. I would like my wife to have custody of both our kids but would also like visitation rights, say 2-3 times a week or more if possible. I think my wife will not mind me having the kids for that much amount of time or a little less time. 5, We do not owe any money to anyone except the loan we took for our house. What is the best possible solution to make this come true. Any help you can give, I will consider a blessing. Thank you so very much. |
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#2
08-01-2005, 07:13 AM
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Yes, you can sign a quit claim deed for the home, however your name couldn't be removed from the mortgage unless she would qualify to refinance the balance of the mortgage into her own name. You do realize though that you are entitled to half of the equity in the home? It would make more sense to sell the home and split the proceeds. However, if you want your children to be able to continue to live there....then you can make an agreement to retain the home and sell it after the kids are grown...and THEN split the proceeds. Alimony would not be a factor in your case because you both have similar incomes. Child support would of course. Based on your income level, 1000.00 - 1200.00 sounds about right for two children. However, if you want it done more precisely, the court will calculate it for you. The amount of time that you will be spending with the kids would factor in to the calculation. Normally assets like 401ks are split....or at least the value that accrued during the marriage is split. However, if you both have 401ks...and they have similar values, then that wouldn't be necessary. Yes, you can leave your wife as your benefiary even after divorce...that is completely up to you. The two of you can make any agreement that you like regarding custody and visitation. Your local courthouse will have a family law facilitator and/or a self-help desk. You can do it without an attorney if that is your wish. It sounds like you are keeping things pretty amicable at this point. Keep that up, because your kids will thank you....but don't go so far overboard that you cheat yourself out of your fair share of the marital assets. |
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#3
08-01-2005, 08:25 AM
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| Here is a link to the superior courts for California, [url]http://www.courtinfo.ca.gov/courts/trial/courtlist.htm[/url] Please go to the site for your county and the self help through the Family Law Facilitator's office. Many county courts are online offering access to the case files and other features. The FLF office can assist you and your wife in your filings. They have computerized filings and calculators available. Most parties without an attorney will be refered to mediation where you will work out your agreements and later they will be approved by the courts. There is an orientation required as well. There is a minimum 6 month waiting period for a divorce but it is important to respond to the papers you received so you don't find yourself divorced under default conditions. While California is a no fault state, the reasons for the divorce may complicate your negotions for divorce. It is very good that you don't have a lot of consumer debt. Have you already opened seperate accounts? You may wish to serious reconsider the terms you want to offer. For example Child support based your incomes is greatly affected by the amount of custody time you have since your wife currently makes more than you, that would change once you make more, but that would require a modification. The amount of visitaiton time you propose is approximately 3 full days per week is approximately 43% , standard visitation is less. [url]http://www.west.net/~ivguy/testcalc.html[/url] If you two can cooporate and share custody and split the time between you that will allow both parents maximum time and is a frequent choice of California parents, it does offer some financial advantages. Child Support Payments Father's Monthly Net Income: $46000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 40 % Number of Supported Children: 2 Results Father pays Mother: $ 2418 Father's Monthly Net Income: $46000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 43 % Number of Supported Children: 2 Results Father pays Mother: $ 1641 Father's Monthly Net Income: $46000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 45 % Number of Supported Children: 2 Results Father pays Mother: $ 1103 Father's Monthly Net Income: $46000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 48 % Number of Supported Children: 2 Results Father pays Mother: $ 268 ------------------------------------------------------------- Father's Monthly Net Income: $46000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 49 % Number of Supported Children: 2 Results Mother pays Father: $ 18 Father's Monthly Net Income: $46000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 50 % Number of Supported Children: 2 Results Mother pays Father: $ 308 ==================================================== Child Support Payments Father's Monthly Net Income: $60000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 40 % Number of Supported Children: 2 Results Father pays Mother: $ 4795 Father's Monthly Net Income: $60000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 43 % Number of Supported Children: 2 Results Father pays Mother: $ 3953 Father's Monthly Net Income: $60000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 45 % Number of Supported Children: 2 Results Father pays Mother: $ 3370 Father's Monthly Net Income: $60000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 50 % Number of Supported Children: 2 Results Father pays Mother: $ 1835 Father's Monthly Net Income: $60000 Mother's Monthly Net Income: $48000 Father's Custodial Time: 55 % Number of Supported Children: 2 Results Father pays Mother: $ 177
__________________ I am not an arborist. |
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#4
08-01-2005, 02:47 PM
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| Thank you very, very much LdiJ and rmet4nzkx. No, I am not cheating myself. You can say being raised in a poor family has helped me getting used to surviving with just the bare necessity. It is however, very important for me that my wife is not burdened with any financial matters and the kids continue with their education without ever having to worry about finance. I don't know if this is important but in the 20 years we have been married, I paid about 70% of all household expenses(mortgage, credit card bills, grocery, utility billls, clothing, etc). Most of my wife's paycheck would go to a savings account but whenever the need arose for additional cash, she would withdraw from that savings account, which was in her name only. Not that I want to be reimbursed 50% of what I contributed but her savings account may have grown considerably all these years. Is it legally required that she give me half of that savings even though I am not interested in the 50% or even 1% for that matter. Once again, thank you both so kindly. Should my wife have some additional questions, I would have her address her concerns here. God bless you both. |
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#5
08-01-2005, 02:57 PM
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Rmet...you better take a look at those calculations again...there is no way that some of them could be correct....for example you are showing him owing 4795.00 in CS at 60k of income, and 60k of income is only 5000.00 a month total income...lol Seru**************yes, you would be entitled to half of her savings account. You are each entitled to 1/2 of all assets that accrued during the marriage. |
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