Re: Calling Divorced Men
steveH wrote:1. I have two kids and will obviously want to provide support for them. However, I have heard horror stories that child support can take over half your take home pay. Is this true? I love my kids and would never want to hold out on them but this just seems like a lot.
First of all, let me preface this with a lot of big warnings. What you MIGHT end up paying and what you WILL end up paying can be almost anything. So for my response, I'll give a "typical" situation.
Most states have established guidelines for child support so you need to do some research for your state and take a look at what the numbers are. That should give you a BALLPARK idea. If your current spouse also works then they are usually expected to contribute to child support too and the court usually splits the support payments based on each parents income.
Usually it works something like this: Let's say your income is $60K/year and her income is $40K/year. Also that the state says that 2 kids will need $1000/month in support. Since you make 60% of the total income you would be expected to pay 60% of the total child support so you'd be at $600/month in child support and she'd contribute the other 40%.
You might also be required to provide health/dental insurance or towards tuition if they are attending a private school, etc..
Quote:2. What determines whether I pay alimony? If it is true and I might pay over half my take home pay to child support, any alimony on top of this and I will be forced to live in a homeless shelter while making a decent income.
Alimony doesn't happen as often any more. Nowadays it's usually when one spouse can't work for some reason or it's for a short term to allow then time to find a job. Regardless, alimony levels are seldom set at levels that would prevent you from living on your own. It happens on rare occassions but usually the guy does something stupid to bring it on themselves or the financial situtaion between the two people is extremely lop-sided (i.e. she's poor and you are a millionare.

).
Quote:3. I live in a no-fault divorce state. Does this also mean that all assets and debts are split 50/50?
No. "No fault" means that there doesn't need to be a reason for the divorce other than that one of you wants one. The "50/50" setup is based on "Community Property" (your state may or may not be a "community property" state). Community property is any property (assets) that were aquired during the marrige. Anything you had before the marriage remains yours, anything she had before remains hers. What you aquired together gets split 50/50. I'm not sure how debts are handled.
Quote:Please don't refer me to a lawyer, I don't have $250/hour to throw right now.
You'll need one anyway. Most will give a free initial consult so go see a few now. You can get a lot of your questions answered professionally and it'll also give you an idea of which one you'll want to represent you when the filings begin.