Lost my job in the middle of a divorce. How do we pay for everything until we're finished?
December 7, 2012 12:55 PM Subscribe
Lost my job in the middle of a divorce. How do we pay for separate households until we're finished?
posted by punocchio to work & money (8 answers total) 4 users marked this as a favorite
I am discussing options with my lawyer, but more input is always good. So is validation on what I think is fair or not.
I have been the primary breadwinner for years, and was still that when we started the divorce. It's a contentious one. We have a temporary court agreement with a monthly amount that I am obligated to pay to my soon-to-be-ex wife, to support her (she was a stay at home mom who only recently started a part time job) and ostensibly the kids. I say ostensibly because we have no real kid expenses except housing (which we both have anyway - separately) and food (which we both have to buy anyway). Currently in the temp I have the kids about 1/3 of the time.
I've just lost my job, with no severance, and am currently looking for something new. In the meantime, there's that temporary amount obligation. There's no way I can pay that from a salary that doesn't exist, plus I need money to live on too.
I'm getting unemployment but it's not nearly enough. It's roughly equivalent to her part time jobs.
Potential sources of cash for living until I get a job are:
Stocks, some of which are marital and some that aren't.
Cash from the sale of our home, which is currently escrowed with her attorney.
Credit line at my credit union (solely in my name)
Credit cards (she has some in her name and I have some in my name)
What's the best course of action to get cash flow?
Also, what's the fairest way to approach this? For example, I suggested we split the house proceeds 50/50 and each live on that until I get a job, at which point we'll move as quickly as possible to a trial. (Mediation didn't work and we can't agree on things).
Her answer to that was the house proceeds should be used for the monthly amount I'm obligated to pay her, and THEN we'll split the rest when we finalize. That doesn't seem fair. If she's living off of those proceeds, I should be too, and the easiest thing to do is split them.
I want to be fair and I also don't want to pull money from the "wrong" places.