What is the name of your state? What is the name of your state? NY
I have been married for 30 years, going on 31. My question is about alimony and child support. We have 5 children and all are grown and departed from the house and independent except one. I have worked hard all my life. The remaining child is 14. She has no skills and has never sought to acquire any because she was unsure about what she wanted to do with her life. She took refuge in raising the children.
My question is this: I currently make $82,000 a year. She makes zero as she quit her part-time job in October. My annual increases will only be about 2.2% a year. She is 50 and I am 55. Total debt excluding the house is $12,000. My student loans will be forgiven Dec. 2020. The equity in the house is at most $10,000. Is the alimony and child support formulaic? Will the alimony be forever? What about my retirement accounts (defined benefit and defined contribution)? The defined contribution now has a balance of $140,000. The pension for the defined benefit is currently $30,000 at age 60. If I continue to age 62 it will be about $45,000. If to age 65 then, $54,000.
While I cannot move up with this employer, I am getting interviews that will double my salary with a start date of July 2020 (likely out of state). If I get a raise and new job, then what? Should I file for the divorce/separation now or wait until I get the new job. At $82,000 neither she or I can really live decently if she does not work. At the same time, I feel responsible for her well being and that of my child at home. I also provide the health, dental, and vision insurance and have $400,000 term life coverage.
This whole thing is new to me and I do not know where to go for advice. I never thought it would come to this, but the relationship cannot endure any longer after many tries. Thank you.
I have been married for 30 years, going on 31. My question is about alimony and child support. We have 5 children and all are grown and departed from the house and independent except one. I have worked hard all my life. The remaining child is 14. She has no skills and has never sought to acquire any because she was unsure about what she wanted to do with her life. She took refuge in raising the children.
My question is this: I currently make $82,000 a year. She makes zero as she quit her part-time job in October. My annual increases will only be about 2.2% a year. She is 50 and I am 55. Total debt excluding the house is $12,000. My student loans will be forgiven Dec. 2020. The equity in the house is at most $10,000. Is the alimony and child support formulaic? Will the alimony be forever? What about my retirement accounts (defined benefit and defined contribution)? The defined contribution now has a balance of $140,000. The pension for the defined benefit is currently $30,000 at age 60. If I continue to age 62 it will be about $45,000. If to age 65 then, $54,000.
While I cannot move up with this employer, I am getting interviews that will double my salary with a start date of July 2020 (likely out of state). If I get a raise and new job, then what? Should I file for the divorce/separation now or wait until I get the new job. At $82,000 neither she or I can really live decently if she does not work. At the same time, I feel responsible for her well being and that of my child at home. I also provide the health, dental, and vision insurance and have $400,000 term life coverage.
This whole thing is new to me and I do not know where to go for advice. I never thought it would come to this, but the relationship cannot endure any longer after many tries. Thank you.
