Wednesday, January 23, 2013

Something to think about

     Many of the potential clients I meet in the context of the dissolution of their marriage come to me to help them obtain the dissolution.  Unfortunately the potential client is often uninformed, in many cases by the intentional actions of their spouse, about the actual financial condition of the marital community.

     Financial issues often lead to the estrangement of the parties.  It is my experience that too many couples have no concept of how to prepare, and live within, a budget.  The reality of a dissolution of the parties' marriage is that a household already struggling to make ends meet now becomes two households.

     In the current economy and job market it is not unusual for the wife to earn as much or more than her husband, but in many cases wife/mom has stayed at home to raise the children, or worked at part time jobs to supplement the family income.  The reality, however, is that resources are often limited, and child support based upon the Child Support Guidelines (and possibly an award of spousal maintenance) will mean a significant reduction in the quality of life for whichever spouse has been the caregiver of the minor children.

     If you  decide that the time has come to file for a dissolution of your marriage you should work up a realistic budget for your ongoing costs and expenses.  This will assist you, and your attorney, in moving forward with the financial aspect of divorce.  If you have no idea what those costs and expenses may be, it will be impossible for you to plan for the future.

     Posted by Harry J. Lenaburg, Esq.
     Associate with the Law Frim of
     Jessica M. Cotter, PLLC

No comments:

Post a Comment