Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jenny and Ryan were married for two years, but things just didn't work out, so they have decided to get a divorce. Jenny works full-time

Jenny and Ryan were married for two years, but things just didn't work out, so they have decided to get a divorce. Jenny works full-time as a bank manager in Manhattan and makes $100,000 a year, but has no savings. Ryan used to work on Wall Street as a stock broker, but lost his job six months ago. He has no current income but has a 401(k) plan worth $30,000 and a savings account with $70,000 in it. Jenny and Ryan purchased their brownstone in Brooklyn together three years ago for $300,000, they each contributed $150,000. Ryan paid an extra $20,000 to buy furniture and appliances, and another $30,000 to fix it up. Because of the home improvements, the brownstone has gone up in value and is now worth $400,000. Jenny has filed for divorce and is asking the court for the brownstone, half of Ryan's savings and permanent spousal support. Ryan has responded by also asking the court for the brownstone and an order requiring Jenny to pay him rehabilitative support.

What do you think the court will do? Will Jenny or Ryan be ordered to pay spousal support? How do you think the court will divide up their assets? Why? Is New York a community property or common law state? What impact does that have?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Tort Law Text Cases And Materials

Authors: Jenny Steele

5th Edition

0198853912, 978-0198853916

More Books

Students also viewed these Law questions

Question

What other publications/presentations does the person have?

Answered: 1 week ago