From my understanding, I shouldn't
responsible for his significant debt occurred
before our marriage.
We have agreed that mortgage is a special
case as we both live there and he will add my
name in the title eventually.
Why not now?
Delay is the deadlliest form of denial.
So it will be paid out of our joint account.
Washington is a community property state. Paying the mortgage out of a joint account could make the house community property in spite of the pre-nup. That, of course, could be to your advantage in the event of divorce.
But I just found out that he was paying off
the loan he had borrowed to purchase the
engagement ring out of our joint account as
well. The ring was listed as a gift to me
before marriage, and listed as his premarital
debt. Am I wrong that according to prenup, it
should be paid out of his personal account?
My interpretation of what you have written is that, yes, it should be paid out of his personal account.
My husband told me that I had interprete the
prenup statement in the wrong way - he thinks
that although I'm not liable for it, it
didn't preclude&n... his personal debt
can not be paid out of the future community
Already fighting about finances. Good start.
You are going to have to decide just how far you want to push something that might be insignificant in reality when compared to your marriage before it gets blown out of proportion and ends the marriage. On the other hand, if he gets away with this, who knows what he'll try in the future.
I also realized another problem regarding
taxs on his earnings from his personal
investment (which is usually quite a big
amount each year). According to the prenup,
all these earnings belong to him and will not
be our community income.
If he just keeps the earnings in the accounts, that's true. But if he uses those earnings to buy stuff that benefits both of you it could become community property as does whatever he buys.
So how would we pay tax for it?
You could consider filing separately.
I don't think it's fair that it should come
out of our joint account
When did "fair" ever have anything to do with marriage?
My husband told me he can't see a way of
keeping track of all the tradings and know
how much should be paid out of his pocket, so
I will have to figure out a formular and tell
That's right. You will.
Seems like it's not important to him because he's got the lion's share of the assets and he'll nickel and dime you as long as you let him.
It's depressing to talk about these, which is
why I was opposed to having a prenup in the
first place. But since he wanted to spell
these out, I feel it's not fair to say "I
keep what I have, but the tax and debts need
to be paid out of our joint account".
There's another way of looking at this.
You wrote that he earns significantly more than you do.
Let's say, for example, that he earns 10,000 per month and you earn 5,000 per month. He puts 5,000 per month into the joint account and you put 2,500 per month into the joint account. That's 7,500. He writes a check for 500 for the ring, leaving 7,000 which is comprised of 2,250 of your money and 4,750 of his money. Whatever money you spend on yourself out of that account is like 1/3 your and 2/3 his anyway. So why make an issue out of it?
You can extrapolate that out to the taxes, too.
If you make 50,000 per year and he makes 100,000 per year and the taxes between the two of you are 30,000 from the joint account. That's 10,000 of your money and 20,000 of his money. Again, why make an issue of it?
Seems to me that you are making a mountain out of a molehill.