Legal Question in Family Law in New York
Property and divorce
My wife of 21 years has informed me that she would like a divorce. 6 months ago we redid our home and purchased a 35,000 car.I still owe 22,000 on the car. Money is tight, should I be thinking about selling the car before she moves forward in the divorce process. With 2 kids involved 17/19 I can't pay for support,maintaience and a new place to live if I have the car payment as well. I feel like I was set up for the big fall.
2 Answers from Attorneys
Re: Property and divorce
It may not be as bad as it looks. For example, you don't have to pay support for children over 18. In addition, maintenance is targeted to helping her become self-sufficient, not to having you support her forever.
The money you spent on the house is a part of the marital estate and, therefore, yours as well. So is the car. Its not lost money, just assets that will now be divided. The debts may be divided as well.
You are welcome to a consultation for no fee at my offices at 42 west 44th street, NY,NY. Please call for an appointment first (646) 591-5786.
Re: Property and divorce
The car and any money you get from selling it are marital property, subject to equitable distribution. You have a valid reason for selling, however, you can't just sock away the proceeds to keep for yourself. You should consult an experienced matrimnial attorney as soon as possible.
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