Legal Question in Family Law in South Carolina

Data:

Home has equity around 132K; balance of 118k. My retirement is around 231K. My wife's retirement is about 47K.

She wants to agree to keep the home and equity in exchange for not asking for any of my retirement. This will leave about 179K (equity + retirement) for her and 231K for me. That is about 56% for me and 44% for her. I am employed (70k/yr) and she is currently unemployed (nurse).

Questions:

question 1 - will the judge intervene and force me to give some of my retirement to make the division more equitable (I would agree to that)?

question 2 - the mortgage is in my name but due to her employment status she cannot qualify nor refinance. What will happen when the divorce is final?

question 3 - Can I add a clause that states that if the home is sold in the next 3 years, I get equity in exchange of some of my retirement assets?

Thank you.

D


Asked on 8/22/10, 2:59 pm

1 Answer from Attorneys
Ben Stevens The Stevens Firm, P.A. Family Law Center

It is possible that the Court would approve that agreement, if it is properly presented to the Court. However, there are other issues involved, including the mortgage, as you mentioned. There are steps that you need to take to protect your interests, as you will only have one opportunity to do so before it is too late.

These are complex issues, and it is important that they be handled correctly. Therefore, it is important that you consult an experienced family law attorney to find out what options are available to you based on the facts of your particular case.

If you need more information, you can visit my family law blog (www.SCFamilyLaw.com) or our website (www.SpartanburgLawyers.com). I wish you the best of luck.

Ben Stevens

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Answered on 8/30/10, 5:45 am


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