Quick breakdown:
Married for 8 years
$275,000 house bought 2 years before marriage in her name only.
Deposit was put down on house. Not sure how much.
Two cars: 2009 and 2014. Both in her name.
Child: 2 years old
She makes $120k/year
I make $30k/year
She has a 401k and maxes it out the first part of the year.
I have a 401k I converted into a brokerage account with approx $30k in a few stocks
How would this work out in a separation agreement?
I've been advised that I'm entitled to:
Half the equity paid to the house since we've been married minus the deposit
Half her 401k minus half of mine
Spousal support - 28% of her gross minus 50% of mine (since she makes significantly more than me)
Basically she would have to buy me out.
Does this sound right?
Married for 8 years
$275,000 house bought 2 years before marriage in her name only.
Deposit was put down on house. Not sure how much.
Two cars: 2009 and 2014. Both in her name.
Child: 2 years old
She makes $120k/year
I make $30k/year
She has a 401k and maxes it out the first part of the year.
I have a 401k I converted into a brokerage account with approx $30k in a few stocks
How would this work out in a separation agreement?
I've been advised that I'm entitled to:
Half the equity paid to the house since we've been married minus the deposit
Half her 401k minus half of mine
Spousal support - 28% of her gross minus 50% of mine (since she makes significantly more than me)
Basically she would have to buy me out.
Does this sound right?
Division of Assets: Division of Marital Assets and Setting Spousal and Child Support in Virginia
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