sher871 Posted July 13, 2012 Share Posted July 13, 2012 My soon-t0-be-ex is a CPA and I do not understand finances all that much. We have agreed to split everything 50/50 but the way in which he has equalized the division of our assets is not making my attorney happy. But I also have a heart and don't want to screw my ex because my atty can be really aggressive and aims high for everything. Here's the issue: My husband is keeping our marital home for now, and I have moved into a townhome. We have $50,000 in equity for the marital home. Rather than giving me 50% of the equity, my ex is keeping 100% equity and making it up by giving me the difference from his retirement. The problem my atty has is that I cannot touch the retirement money without being penalized or waiting 15-20 years for retirement. If my ex sells the home, he gets that cash without any penalty. My atty wants me to have more liquid cash. My ex took out a $40,000 line of credit to pay me $25,000 in cash so that I have some liquid cash...and he gets $15,000 so that he has some liquid cash as well. My ex does have $120,000 stock fund which is non-marital asset (which I cannot touch and I am fine with this). My atty thinks my ex can tap into that to give me more liquid cash so that my ex doesn't get all the equity. I feel bad for making him go into the stock fund...we have 5 kids and I know he will be using that for college and weddings. We are both in our 40s, and I am a teacher. With the alimony and child support (6 years), I will be on my own after that. With the current scenario, I will have $25,000 liquid cash and about $100,000 of my ex's retirement, plus my pension which won't be huge because I just started teaching 5 years ago. Any advice? Thanks. Link to post Share on other sites
pteromom Posted July 13, 2012 Share Posted July 13, 2012 If he can't pay you 50% of the equity in money you can use now, he needs to sell or refinance the home so that he can. I am with your attorney - I don't think it is fair to give you money in his retirement account that you can't use. Link to post Share on other sites
Author sher871 Posted July 13, 2012 Author Share Posted July 13, 2012 He already re-financed a few months ago when I bought my townhome. He just took out a line of credit and is giving me $25,000 of the $40,000. There's no other way for him to get cash. We want him to keep the marital home (at least for a few years) because it works out really well for our kids sake. Link to post Share on other sites
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