Guidelines for alimony and child support - 15 year marriage, 3 children
Rough times now in our marriage. The topic of divorce has come up a few times. I would like to provide my wife rough estimates of what she would receive for alimony and child support for 3 children under 18. She works part time $10k, I full time, mid $70k range. Approx. $100k in investments (401k, pension, iras, general investment accounts). $30-40k equity in $250k house. Minimal other material assets. I have B.S. degree, she does not. My goal is to clearly show, in numbers, the negative impact to quality of living because of lack of cash. I realize the answers would be rough estimates only. Thanks!
1 Answer from Attorneys
Re: Guidelines for alimony and child support - 15 year marriage, 3 children
Divorce is a financial disaster for everyone
The physical assets House/ car / IRA/ etc will be split %0/50 Count on household effects going wherever the kids go. Alimony can be figured at 3 years for every 10 years of marriage In your case it will last long enough for wife to get a degree. Child support will be roughly 1/3 of your net regardless of the number of children> That is if done properly as each child reaches 18 the recalculation will result in the same 1/3 f your net. You should count on a radical change in lifestyle for at least 5 years. The financial adjustment takes about 5 years At that point each of you can start to rebuild. Incidently: Child support is graduated based on combined incomes so an increase in her income only raises the bar. The bottom line is that no matter what her income is you pay about 1/3 of your net. Joint Custody/ shared parenting and all the other names given to custody and visitation will not change to child support numbers.
Better to stay married or at least work out the separation between yourselves or see a mediation specialist. Anything but the Courts