Alimony and Buyout does this sound reasonable?

[Mykec805]

Hello I'm in California, I grossed roughly 82k last year while soon to be x spouse grossed 19k last year. Now I pulled taxes W-2s and and ran all that through different alimony calculators online, which are showing between 1100 and 1200 a mo however we agreed on 950 a mo for 3 years (married for 6)
I think this sounds fair (based on my living expenses) but am I missing anything?

Also current mortgage owned is 313k and per comps and internet house is worth between 380 to 400k I'm buying her out at 29.5k which 1st payment of 15k upon her moving out and then in 7 years final payment of 14.5k
Again does this sound fair, and or am I missing anything?

I will be doing this buyout through personal loans. Also please note our separation agreement contract that we both typed up, has specific details about refinancing once I'm able to, and quitclaim deed Etc, among other specifics.

Thank you in advance, really trying to keep this uncontested, don't want to go in front of a judge because who knows what will happen

 

[Zigner]

If you and your soon-to-be-ex are in agreement, then it really doesn't matter what others think.

 

[Mykec805]

If you and your soon-to-be-ex are in agreement, then it really doesn't matter what others think.

I just want to make sure I'm not missing anything or giving away too much of my hard-earned money

 

[ALawyer]

I agree with Zigner, as the best deal is one 2 people agree on while avoiding litigation. What I might think is fair would differ from what someone else might think is fair.

One thing -- it would be important to hire a lawyer to document the terms of the agreement, and file the essential court documents. BUT be careful as many lawyers want to show you how they can strike a better deal for you, and that can mess things up. Jointly hiring a lawyer who handle collaborative divorce merely to draw up the terms of agreement might be in your best interests.

 

[LdiJ]

Hello I'm in California, I grossed roughly 82k last year while soon to be x spouse grossed 19k last year. Now I pulled taxes W-2s and and ran all that through different alimony calculators online, which are showing between 1100 and 1200 a mo however we agreed on 950 a mo for 3 years (married for 6)
I think this sounds fair (based on my living expenses) but am I missing anything?

Also current mortgage owned is 313k and per comps and internet house is worth between 380 to 400k I'm buying her out at 29.5k which 1st payment of 15k upon her moving out and then in 7 years final payment of 14.5k
Again does this sound fair, and or am I missing anything?

I will be doing this buyout through personal loans. Also please note our separation agreement contract that we both typed up, has specific details about refinancing once I'm able to, and quitclaim deed Etc, among other specifics.

Thank you in advance, really trying to keep this uncontested, don't want to go in front of a judge because who knows what will happen

The bolded is fair if your spouse is not on the mortgage. The bolded is massively unfair if your spouse IS on the mortgage as that would be tying up yours spouse's credit for a very long time. Since your spouse is low income, that would mean that your spouse basically could not get a loan for anything at all until you paid off the mortgage.

If your spouse is on the mortgage you should be required to refinance the mortgage for enough to remove her from the loan and to buy out her share of the equity. It also should cost you a lot less than personal loans would cost you in terms of interest rates.