please advise regarding possible divorce and division of assets?

Question

i have been married almost 5 years, living together for seven years, and together for 10 years total. no children, but a 80 lb golden retriever whom we acquired together when the dog was a puppy. my husband has an engineering undergrad degree and a MBA from a prestigious university. he earns 6 figures plus annually. i have been in grad school throughout most of our marriage and only working part time. he has paid the majority of expenses over the years. we have no debt and about $200K in assets (mutual funds, IRA, stocks, etc). we own no real estate. we live in nj, a community property state. if we divorce, will i be entitled to half of our assets. we have no prenup. i am a designer and make considerably less than he does. please advise. thanks.

Answer 1

The laws depend on the state.

Remember, most divorces are not resolved in a court room, but in negotiations between the lawyers.

So the advice to seek good legal counsel is the best.

We can give guidelines and share from our experiences, but your outcome depends upon your state's laws and what you and your husband agree upon.

With a marriage of less than 10 years, spousal support in most states is highly unlikely.

In most states, marital misconduct doesn't entitle a former spouse to spousal support either. So if you cheated, it doesn't cost you anything, and if he cheated, it doesn't help your case.

Some details about my case in IL. The circumstances are similar with regards to income. I'm multi-degreed with degrees from a top 20 university here in the US, making 5x what my ex-wife made.

We were married for 7 years before her affair. We had one child.

I pay her child support, and nothing more. She got 1/2 of the assets accumulated during the marriage, but none of the assets I had before we married.

I kept the house, and the debt she ran up was split based on income.

Today, three years later, I am out of debt (except for my modest mortgage), still in the home, paying child support, and paid none of her legal costs and zero spousal maintenance.

I am able to save 20% of what I make, give generously to my church, and still enjoy life. I may drive a Toyota instead of a BMW, but that's a small price to pay ;)

So, given you were supported during the marriage and probably obtained your education with marital assets, I would not expect spousal support, regardless of what lifestyle you've grown accustomed to.

Of course, your mileage may vary.

Answer 2

First yes, you are totally entitled to 1/2 your assets if they were acquired while living together. As for the dog, it's up to you two to figure out the best place for him. Also, considering you are now used to a standard of living with him, you may also be entitled to spousal support until you get a full time job. Best course of action is to obtain a lawyer and get the ball rolling in the courts.

Good luck!!

Answer 3

yes you are entitled to one half of everything,and do not settle for less.You have been with him 10 years total and regardless to the fact that you only worked part time,Im sure you were a big part of his success..I would seek an attorney asap and find out just where I stand.Don,t cut yourself short because you have given up 10 years of your life for this man...I am somewhat concerned about that 80 lb golden retriever however,someone will lose there.good luck to you....Just remember be stern.but be fair that way you will have no regrets....Good luck

Answer 4

You're not seriously going to take into consideration answers given to you in this forum... right?

Lots of attorneys give one free consultation... seek one.

Answer 5

Ask an "attorney", no one here is qualified to answer your question except one.