sry for the relatively "lag" reply.
for a specific case, i don't remember when exactly it was, but
shd be within the past 2 yrs.
there's this 50+ yrs old ex-businessman, who can no longer work
due to his disability. although he still live in a landed property,
well, you know, he doesn't work, so i dunoe whether to classify him
as a rich man or not.
main pt:
he was making $10k< per month at the time of the divorce.
he is required to pay monthly alimony to his wife, of $5k per
month, with a pending lawsuit on 50% of assets (the landed property
he is still residing in).
is it fair for the man, since that he is unable to work, to
continue paying alimony to his wife? at $5k? also, he has to pay
for his children's expenses (custody was awarded to the wife),
outside of the $5k he gives to his ex every month.
bear in mind that due to his disability, he is forced to retire
early, and stop working, and thus end his source of income. he is
expected to live on his savings. is it fair to suck the man dry of
his savings to pay for the unreasonably high alimony demanded?
for 5k, u can support dunoe how many ppl alr.
since he is to live on his savings for the rest of his life,
assuming that he spends only $500 on himself, a 95% cut in
"allowance/income", (not to mention that's impossible, since he
also has other bills to pay. power bills, food etc.), he would
still have to spend $5.5k per month.
$5.5k is double, or even in some cases, triple of what people
are earning out there. bear in mind of that. can he afford
to spend that much per month given his current state of
permanent unemployment?
the wife, who is healthy physically can jolly well go work for
her own money, instead of forcing her poor ex-husband into
debt.
This is a very one sided view to think it's the woman who is
sucking him dry.
If this man is 50+, how old is his wife ? Probably not too far
off isn't it ? Now at her age, how much do you think she can make
?
How can you assume his wife never contributed to his success
?
An since he had been a successful businessman, he will have
other retirement savings and how much is that ?
If alimony is an installment to his wife for her share of
contribution to the shared savings throughout the years. Would you
prefer he just give her one lump sum instead ?
If I am not wrong, the family court awards
alimony/maintenance/child support based on his current income. How
can you be so sure he does not have other source of income from
other forms of investments ?
So what you are saying is , if the woman marries a man empty
handed, she must also leave empty handed after 20 years of marriage
?
If that is the case, then it is better for a man to marry a
financially capable wife, who has the same income capacity of the
man she marries. That way, a 50% split will be justified ?
If that is the case, then I suggest we put a value to a
housewife's job.
This is an estimate
Housewife 'would be paid £30,000 per year.
http://news.bbc.co.uk/1/hi/business/7252504.stm
On top of the housewife pay.
I think $50,000 per child birth.
And $20,000-30,000 more for plastic surgery after childbirth to
give her back her body.
And $20,000 per year for companionship charges.
Not forgeting her retirement needs, at the current rate of CPF
contributions.
Every year there will be a inflation revision on the values
above.
Will this be fair ?
This way, the wife can decide for herself if she rather stay
home to be a housewife or go work.
So she don't have to worry about getting a cleaner job when her
husband gets sick of her 10 years down the road.
As such, women will only choose men who can afford the
price.
