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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 01-27-2017, 11:14 AM
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trinton has a little shameless behaviour in the past
Default payment of S7 expense

just a quick question on the payment, do you just pay the other parent whenever they ask ? My understanding has been that the other parent has to provide you with receipts and then you reimburse your prop. share within 15 - 30 days .

How does everyone handle theirs ?
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Old 01-27-2017, 12:31 PM
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Quote:
Originally Posted by trinton View Post
just a quick question on the payment, do you just pay the other parent whenever they ask ? My understanding has been that the other parent has to provide you with receipts and then you reimburse your prop. share within 15 - 30 days .

How does everyone handle theirs ?

Reconciliation twice a year. We each save up all our S7 receipts for six months, and then send each other a spreadsheet with all the expenses on June 15 and December 15. Using our incomes ratios, I calculate how much each of us should pay out of the total of all expenses. Then I look at how much we actually did pay. If my actual payments are more than what I should be paying, ex owes me the difference. If his actual payments are more than what he should be paying, I owe him the difference. For example:

S7 ratio: 65% Mom/33% Dad
Between Dec 15 and June 15, Mom paid $1500 for agreed-on S7 expenses and Dad paid $800. The total is $2300

According to the ratio, Mom is responsible for $2300 x .65 = $1495. Dad is responsible for $2300 x .35 = $805. So on June 16, Mom sends Dad a cheque for $5.

This is easier than calculating each expense as it comes in, and limits haggling over S7 to twice a year.
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Old 01-27-2017, 01:08 PM
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There isn't much conflict between us anymore, so when an expense that we are supposed to split comes up, we'll send a text to eachother detailing it, as well as a picture of the receipt. Generally an E-transfer is sent that day for half the amount. On the rare occasion it's a higher value amount, I'll usually end up paying the full amount, and collect her share from her over a few pay periods.

Wouldn't likely work very well operating like that for people still involved in court, or for high conflict types.
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Old 01-27-2017, 01:43 PM
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Some people (like my partners ex) forget they have to provide proof an expense was incurred. She submitted $5,000 of "school" expenses that had no receipts. His lawyer told him that the court would average out one necessary expense with the estimate and no receipt but the rest is not acceptable.

This is another example of high conflict vs. reasonable and what works/doesn't work.
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