FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
I have been married for 16 years since 1996, we have one 11 year old child together and we have had custody of his son since he was 3 years old, he is now 21 and will be graduating university in a few months. I have been on permanent disability since 2004 for a spinal disease & a chronic pain condition. My husband makes about 106,000K, I make on Social security disability aprox 19,800.00K. We live in a home my mother gave to me in 1990, it is worth aprox 439,000. 1999 we took out a home equity mortgage in my name for 59,000K for adoption, the balance is still $59,000. He will NOT pay this down. He has asked me to put his name on this house and to leave 1/2 to HIS son (from a previous marriage). He has screamed DIVORCE one too many times So, I cannot put his name on this house as I have NOTHING ELSE, no savings, not even life insurance. When he divorces me I do not want to have to give him 1/2 of what this house is worth and have to make a new life, who knows where.Answer:
He says he is leaving because he hates our neighborhood in Queen NY, (he was raised & lived in Brooklyn most of his life) I want to stay here until my mother passes she is aging and needs me now more than ever, His parents are both deceased many many years now. He wants to live on Long Island and is willing to leave his family to live a life on L.I. He has about $250,000K in HIS 401K account.
My question is, because I cannot work anymore, and my income is not enough to run this home, will I be entitled to alimony and will I be entitled to keep my home without having to sell and give him half.
If the house your mother gave to you is in your name only, it is separate property, not marital properly and your spouse will have no claim to it.
If you allow him to pressure you to put his name on the house, you will be gifting to him half of your equity in it.
If he has been supporting you and the family all these years, the Court will require him to continue to do so, especially since you are unable to work.
I strongly recommend you contact me at 212-370-1660 to arrange for a meeting to discuss mediating your divorce. We can discuss all of these and other matters that have to be addressed and the divorce process.
I can help. Give me a call.
Leonard M. Weiner, Esq./Divorce Solutions