Divorcing parties often consider the possibility of one party buying out the other’s one-half ownership interest in their marital home. However, I always raise a few “what ifs” if my client is the one contemplating the option of being bought out:
People often ask me what I charge for a divorce that is “uncontested”. My initial questions are to establish whether they truly have an uncontested divorce case. If they have children, they will sometimes tell me they have agreed to a 50/50 timesharing (formerly called custody). I then ask whether they have discussed what will be paid in monthly child support, very often they respond with, “neither of us will pay child support to the other”. My follow-up question is, “ok, so do you both make the same amount of money?” Usually, I will get a response such as well no, he/she earns a lot more than me. When one party earns significantly more, the parent with the greater income will normally have to pay some amount of support to the other.Of course, people have often not considered the issue of income disparity and believe the 50/50 time-sharing arrangement precludes one party from having to pay the other any child-support.