Monday, February 17, 2014

Household Budget in a Divorce

Whether you are seeking support or whether you may be a potential payor of support, it is important for you to understand your household expenses.  During your marriage, the paying of bills and the managing of finances may have fallen to one person or another.  Now, it is up to you to be sure you know how much is your mortgage or rent, utilities, groceries, insurance, gas, etc.   There are various forms available on the internet to prepare a budget sheet (or what we refer to as an income and expense statement).  We provide our clients with a form recognized in central Virginia courts.   Some people are good with Quicken reports.  Whatever your mechanism, your attorney needs this information to help piece together a spouse's need or a spouse's ability to pay.