FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
My husband and I have been married for 9 years. We live on Long Island, NY. Four years ago, my parents gifted (in my name only) $150,000.00 in equity in their home. We put 27,000.00 down (20,000 down payment, 7000 closing costs). We mortgaged the house for $130,000.00. On the side, we agreed to pay my parents $50,000.00 additional, but this was not drawn up in the paperwork. My parents sold the house for about half the market value so that I would have this house to raise my children. We now have three children.Answer:
When we purchased the house, my husband verbally agreed that in the event of a divorce, he would walk away from the house since all of the equity in the house was really earned by my father. Now, I find out my husband is cheating. He says that he wants to make the marriage work and is willing to sign a post-nup waiving all rights to the house in the event of a divorce. Can a post-nup waiving all rights to the house stand up in court? Will I need to provide “consideration” and if so, will $5,000.00 cut it?
One last question, he earns about $67,000.00 and I only earn $26,000.00 because I work part-time because my kids need me. Can you give me an idea of what I can expect for child support and alimony?
A postnuptial Agreement will certainly help resolve this issue regarding ownership of the house and can also address any other issues you are concerned about in the event of divorce.Back to content
Child support is statutory and depends on the number of children, the incomes of each spouse and any unusual circumstances such as illness of infirmity of children or parents.
Spousal support will depend on your ability to find gainful employment and your level of professional skills and experience working.
If you are living in the NYC metro area, please call me at 212-370-1660 to arrange for an appointment to discuss the matter in greater length.
Leonard M. Weiner, Esq./Divorce Solutions