Certain mandatory shared children’s expenses are defined in the CA Income and Expense declaration which include: child care for job training and/or work, medical care, special educational needs, and travel related to visitation. But what about other expenses such as extracurricular sports, private school, orthodontia, tutors, birthday parties, even haircuts?
Michele Singletary, a columnist for the Washington Post, wrote the following column on September 11, 2024. Michelle Singletary is one of my favorite financial gurus as she delves into many of the financial problems that vex us and is very direct about how to help us help ourselves.
What I say to the first noted potential clients is that I, as a neutral financial professional, promise them they will know everything financially related to their divorce prior to any decision making. It is my job to lay out all the assets and debts and income and expenses in simple and understandable form to both clients and any mediator or attorneys. It is also my job to educate my clients about taxes, tax filing status, health and life insurance, Social Security, pension values, and the consequences of dividing assets that have tax related issues.
My earlier blog (“Making Sense of Those Legal Forms” posted February 1, 2021) discussed the forms that are needed to begin the process for divorce. This article is written to explain the forms that must be submitted to the court in order to complete the process of obtaining your divorce.
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