Filing California Divorce papers, if we can not agree on 50/50 split, what are my choices ?

Question:

Married 18 years, separated the last 3 years and now filing California divorce papers. We have a house, stocks, retirement assets, and bank accounts. We both agree that the kids will live with mom, and agree on visitation schedule. Wife wants the house for herself & kids. But what she gets in the equity of the house is 160K more than all the other assets that I get (retirement, stocks, bank accounts). She says that I don't have to give her child support, as she already got those dollars with the house. But even after that, she has about 100K more in her bucket. She does not have the cash and can not get a loan to pay me, so we can be even. So, what are my choices ? Should I file the divorce papers and let the Judge tell us how to do the 50/50 split ? Pros and Cons ?

Answer:
Just let it go. A California divorce is the worst, due to being a no fault state. What this sounds like is you are getting screwed today. In the long run, you are not getting screwed. California law provides for 45% of your income for one child, 55% for two and 65% for three or more. This can include your future spouse's income if you get remarried and your ex files for an adjustment. If it is court ordered in the divorced (agreed upon) amount, then it can not be modified, except in a joint agreement. I pay $2350 a month in California. That is $169,200, per child, after 18 years, totalling $507,600. That would have been worse if it hadn't been agreed to "down" to that amount in my divorces. She kept the house, on the condition that if she sells it, I get 20 percent equity if she sells it in less than 5 years, guaranteeing my son has a nice roof over his head.

If you can not reach an agreement, let the judge decide.

you can always draft something up in regards to the equity, ie... once the kids are grown and moved out, then she would have to sell the house and you guys split the equity then.

Otherwise, yes you would have to get a lawyer or have an arbitrator hammer out something for you. For now, a roof over your kids heads are more important, and equity is not real money like stocks and bonds are. If she can't afford to tap into it, just put it aside for now and agree to hammer that out later. To be fair, I would split everything down the middle and have leave the house in both names. You kids having a roof over their heads should more than cover any child support you would have to pay.

Please read and understand this: If she wants child support or not the court WILL give the children child support. Child support will for the child and not for her. Go to the judge because maybe your wife will get an attorney that is not good and you can get your fair share. She knows she will be getting child support, if not today it will be next week. Go to the judge.

Filing California Divorce papers, if we can not agree on 50/50 split, what are my choices ?

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