MJ2.0
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Post by MJ2.0 on Nov 19, 2015 13:23:45 GMT -5
Especially since he is younger! So, if she can keep working, so should he! And kids are usually covered under child support anyway He wasted the best years of his life with her and supporting her while she moved forward in her career. That is worth something. Well we don't know how much supporting he did or didn't do.
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MJ2.0
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Post by MJ2.0 on Nov 19, 2015 13:29:47 GMT -5
And especially when there are no kids involved. Especially since he is younger! So, if she can keep working, so should he! And kids are usually covered under child support anyway I meant that he didn't have to put his own career on hold to take care of the kids and support her while she was the breadwinner. Micky, I figured it was something along the lines of what you just posted. Hugs girl.
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Deleted
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Post by Deleted on Nov 19, 2015 13:31:53 GMT -5
Archie is just getting at how it's accepted if the genders are reversed and it's the woman who has been home, but I still don't support alimony in it most cases.
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ArchietheDragon
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Post by ArchietheDragon on Nov 19, 2015 13:33:26 GMT -5
Sorry Archie, but he really didn't do much other than figure out ways to spend money. He wasn't emotionally supportive and didn't take care of much at all around the house for me, we had lawn service, pool service, dog sitters, I cleaned the house and did all other house related activities (paid bills, managed investments, cooked, etc.), and we hired pros for anything that was broken or needed replacement. He did like very expensive cars and motorcycles and spent a lot of his time buying and working on those, well, until he found another woman to spend the days with while I was at work. So I'm going to have to disagree about the best years of his life being spent supporting me. My only mistake was staying about 5 years too long. Didn't want to go there but don't want anyone to think I'm just throwing someone aside for no reason. Did he at least welcome you home with a glass of wine in his hand and something sexy on?
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MJ2.0
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Post by MJ2.0 on Nov 19, 2015 13:41:00 GMT -5
Archie is just getting at how it's accepted if the genders are reversed and it's the woman who has been home, but I still don't support alimony in it most cases. I would agree with alimony in the cases where the SAHS or the lesser financial provider did actually put their careers on hold or forego a career altogether to help their spouse become successful (i.e. working the books, website, administrative stuff on their spouse's business until they made enough to hire staff; working 1-2 jobs and struggling while the other spouse attends law/med school full time). And in those cases I think alimony should be limited to what it would take to get them into a decent (not lavish) residence and some money to get an associate's or bachelor's degree in something that will allow them to support themselves (depending on the circumstances, of course).
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Bluerobin
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Post by Bluerobin on Nov 19, 2015 13:58:15 GMT -5
Mortgage rates are about to go up. Is the mortgage a fixed rate? If so, consider a lump sum. However, negotiate it. Offer him 70% of the total now vs monthly payments.
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haapai
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Post by haapai on Nov 19, 2015 13:59:38 GMT -5
Can anyone here recommend a good guide to personal income taxes for micky? I make about a sixth of what she makes and don't even itemize, so I'm hardly in a position to warn her about phase-outs and the lurking AMT. She needs a guide that doesn't assume MFJ status. Does anyone know of one?
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Deleted
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Post by Deleted on Nov 19, 2015 14:02:38 GMT -5
Is the married to single going to be that big of a deal? Yeah, you lose a 4K personal exemption and the standard deduction drops a little over 6K, but she's losing 20K of income too.
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haapai
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Post by haapai on Nov 19, 2015 14:11:40 GMT -5
Oh yeah, it's gonna be big. She's now very firmly in the 33% bracket that she only brushed against in good years before.
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Deleted
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Post by Deleted on Nov 19, 2015 14:15:57 GMT -5
Oh yeah...forgot about the bracket differences between single and MFJ. I'm used to being the poor one and the bracket going down.
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haapai
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Post by haapai on Nov 19, 2015 14:27:30 GMT -5
I may be wrong about how much income is taxed at 33%, she may have enough deductions to avoid it, but the compression of the lower brackets is going to hurt.
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ArchietheDragon
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Post by ArchietheDragon on Nov 19, 2015 14:32:00 GMT -5
Is the married to single going to be that big of a deal? Yeah, you lose a 4K personal exemption and the standard deduction drops a little over 6K, but she's losing 20K of income too. My way, way back of the napkin calculation shows that it will cost her an additional $5k of taxes having to file single.
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Deleted
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Post by Deleted on Nov 19, 2015 14:34:46 GMT -5
Is the married to single going to be that big of a deal? Yeah, you lose a 4K personal exemption and the standard deduction drops a little over 6K, but she's losing 20K of income too. My way, way back of the napkin calculation shows that it will cost her an additional $5k of taxes having to file single. But she doesn't have to support him anymore! (Well...not after the two years of alimony is up).
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yogiii
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Post by yogiii on Nov 19, 2015 14:43:21 GMT -5
Congrats on your new life. Sounds like he was a real dummy.
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whoisjohngalt
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Post by whoisjohngalt on Nov 19, 2015 14:53:41 GMT -5
I seriously can not believe he is getting alimony and that huge of the amount!
And yes, I would be saying the same thing if the genders were reversed.
There might not be enough of these type of cases to get laws adjusted. This is just nuts!
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souldoubt
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Post by souldoubt on Nov 19, 2015 15:01:07 GMT -5
If possible I would do the lump sum because I would want to be completely separated from the person as soon as possible. I live in a state that is sue happy and also a no fault state so I've seen/heard some amazing stories when it comes to divorce. I know one person who has had their former SO go back to the well multiple times. How much of that is being in CA I can't say but I think the majority of it is the individual being a pushover and having a terrible lawyer. Someone else I know just finalized a divorce after almost 30 years of marriage and didn't screw around making sure everything is covered in the divorce settlement. That doesn't mean something couldn't come up later but point is that person is doing everything in their power to get everything separated and finalized as much as possible. I think the sooner you're no longer tied to someone else financially the better. Good luck and sorry you're going through this.
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ArchietheDragon
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Post by ArchietheDragon on Nov 19, 2015 15:03:01 GMT -5
Sorry Archie, but he really didn't do much other than figure out ways to spend money. He wasn't emotionally supportive and didn't take care of much at all around the house for me, we had lawn service, pool service, dog sitters, I cleaned the house and did all other house related activities (paid bills, managed investments, cooked, etc.), and we hired pros for anything that was broken or needed replacement. He did like very expensive cars and motorcycles and spent a lot of his time buying and working on those, well, until he found another woman to spend the days with while I was at work. So I'm going to have to disagree about the best years of his life being spent supporting me. My only mistake was staying about 5 years too long. Didn't want to go there but don't want anyone to think I'm just throwing someone aside for no reason. Just reread this. So he was cheating on you and still get to pay him all that money? That does suck.
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Peace Of Mind
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[font color="#8f2520"]~ Drinks Well With Others ~[/font]
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Post by Peace Of Mind on Nov 19, 2015 15:22:09 GMT -5
Sorry about your upcoming divorce, Micky and you've already received great advice to think about but I do have a question. If you paid alimony monthly and he were to up and die... wouldn't it stop? What if you got sick or had to cut back your hours or responsibilities? Could the amount go lower? Or do you expect your income to increase and worry he'll want more? Emotionally I'd want to be done too but just something to think about. Oh, and I have a boat now so I can take him out for late night "fishing" for you and the cost would be substantially less than $500K.
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Tennesseer
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Post by Tennesseer on Nov 19, 2015 15:29:17 GMT -5
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NastyWoman
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Post by NastyWoman on Nov 19, 2015 15:32:37 GMT -5
Below is the tax bracket for a single person in the income range Mckey is in. Looks to me that the tax advantage of alimony would be somewhere in the $12k/yr range! I'm too lazy to scan back up and check, but if this alimony will last for 3 years it would be like pay two get one free! 33% $189,301 to $411,500 That was just for the money part. Take good care of yourself Mickey
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Post by The Walk of the Penguin Mich on Nov 19, 2015 16:20:57 GMT -5
Put his alimony amount in your bank account and write a check for $3k/month for two years.
Actually, you can set it up so your bank does this, you won't even have to think about it! Set up an automatic payment where your bank sends him a check on the first of the month.
I'm not sure that I'd send it all to him, like someone said, if he dies it means that the entire amount goes to his estate (or to blow) vs you keeping it. In the meantime, you'll get 2 years of a $36K deduction rather than one year of a $72K deduction. You'll have to see how this benefits you taxwise better.
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GRG a/k/a goldenrulegirl
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Post by GRG a/k/a goldenrulegirl on Nov 19, 2015 16:47:45 GMT -5
Think of it as making him have to wait for the money every month.
If his financial skills are that poor, you'll actually be sticking it to him every month than vice versa because you know the alimony will run out while there is still a good chunk of month left.
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zibazinski
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Post by zibazinski on Nov 19, 2015 16:51:45 GMT -5
I'd pay it monthly. He could drop dead.
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cronewitch
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Post by cronewitch on Nov 19, 2015 16:56:10 GMT -5
I'd pay it monthly. He could drop dead. Murder is still illegal even if he needed killing, or I would be a widow not divorced.
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zibazinski
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Post by zibazinski on Nov 19, 2015 16:57:29 GMT -5
Plus he's probably too stupid to know he's going to have to pay taxes quarterly now so he will get hit with a penalty I bet. DH's ex cheated on him. Got 5 mil and alimony of 5k a month then just collected another 2 mil. He said it was worth it to be free of her and he never regretted the divorce or us. But she got a nasty tax penalty and hit for not filing and paying estimated taxes. DH enjoyed that.
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zibazinski
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Post by zibazinski on Nov 19, 2015 16:58:10 GMT -5
You should hear DD go on about how easy it is to kill someone and get away with it. Creepy.
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cronewitch
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Post by cronewitch on Nov 19, 2015 17:51:26 GMT -5
My niece's ex lost his drivers license because he didn't pay his support for too long, so while she is suffering not getting support at least she has something to be happy about.
I would put the money in an account and have it sent to him monthly or if you want to mess with him without getting in real trouble send it a different day each month so he doesn't ever know when it arrives. My niece's ex did that for the first few months it was due that month but didn't say which day so he was sure to always make it after her mortgage payment was late so she had to borrow every month.
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CCL
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Post by CCL on Nov 19, 2015 19:15:31 GMT -5
My niece's ex lost his drivers license because he didn't pay his support for too long, so while she is suffering not getting support at least she has something to be happy about. I would put the money in an account and have it sent to him monthly or if you want to mess with him without getting in real trouble send it a different day each month so he doesn't ever know when it arrives. My niece's ex did that for the first few months it was due that month but didn't say which day so he was sure to always make it after her mortgage payment was late so she had to borrow every month. Hahaha! That sounds like something I would do, send it randomly just to screw with him.
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haapai
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Post by haapai on Nov 19, 2015 19:38:35 GMT -5
Am I missing a joke here? Some of the suggestions made seem a scootch spiteful. Would be saying these things or finding them funny if Mr Micky were a goose instead of a gander?
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milee
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Post by milee on Nov 19, 2015 20:01:25 GMT -5
I'd pay it monthly. He could drop dead. Unfortunately, although I was hopeful and tested the theory thoroughly, I can sadly but conclusively report that looks CANNOT kill.
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