My friend is approaching the one-year mark for his separation and is currently seeking legal counsel. Your firm is one of the last two he is considering to retain for representation. He’s been visiting your site to gather some information as to what to expect in terms of alimony, child support and property division. He is aware of the fact that they will divide debt and assets (the retirement, savings, and investments) 50/50. Does the division also apply to his wife’s inheritance?
They were married 38 years, have
2 kids - son 19 and daughter 16, both residing with mom. Daughter will stay with Dad on weekends.
Mom has been a stay-at-home parent for last 19 years (although for the last 8 years or so Dad has taken on most of the household and children responsibilities because the mom was depressed.)
Mom has two master’s degrees, but is unwilling to return to the work force, claiming she has been absent from the job market to long too adapt to the current trends.
Dad has moved out of the house, but still pays all of the bills.
There is still a mortgage on the house for which the dad pays. Mom wants the house. Dad is fine with that if she can afford it. Will she have to buy him out by way of taking less of the retirement and savings? Less alimony? How long must he pay alimony? Will her two masters degrees have any bearings on the amount and length of time he pays alimony? Is the husband’s income/earnings since the date of separation considered in the divorce settlement?