Equitable distribution/more

This is for illustrative purposes only, I do not know if this settlement is fair and reasonable in your case because I have not reviewed your financial information. If the total that you own is 70,000 it would generally be divided this way.

40,000 in total retirement means you should each get $20,000 in retirement. Retirement funds have different tax conseqences and are generally treated differently.

$30,000 in equity in the home means you should each get $15,000, however because you are paying $5,000 more in debt than he is, you are entitled to receive $5,000 more than him. Which means you get $20,000 in equity and he gets $10,000. The total to him between retirement and house equity is $30,000.

Helena M. Nevicosi
Attorney with Rosen Law Firm

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Raleigh, North Carolina 27607
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So that I can understand this, I want to use figures because I’m still having trouble following:
If there is $30,000 equity in the house, $30,000 in my retirement account, $10,000 in a 401K. Total equity = $70,000. His debt is about $10,000. My debt is about $15,000 which includes a car loan. Do you say the Equity is $70,000 and subtract out the total combined debt of $25,000? This would leave $45,000 to split? So if his 1/2 is $22,500 and I want to keep the house and keep my retirement intact, I would need to come up with that amount to pay him out?

Thanks so much! This is tricky to follow!