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How to budget: projecting living expenses during divorce
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Divorcing clients are sometimes surprised that one of the key documents their lawyer will ask them to complete is a budget of their projected living expenses. However the principle of need is often a significant determining factor in the vast majority of divorce cases. A thorough and comprehensive list of household outgoings is necessary in order to reach a financial settlement between divorcing parties.
For those going through a divorce predicting what they will need to live on in the future can seem like an overwhelming task. This process may involve thinking through where they are going to live considering the cost of a different sized house how much it will cost to fund children living in a new household for a portion of each week how much the parties might need to pay for childcare and so on.
Putting together a budget was one of the top 10 tips for separating couples in
my January 2016 article. However even for those who undertook the task in the early part of the year it is sensible to review this to ensure that...
Read the full article here.
