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

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  #1  
Old 01-02-2019, 10:38 PM
tunnelight tunnelight is offline
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Default Financial statement reasonable expenses?

Time has come for an updated financial statement.. 3 years since last time. This time.. 50.50 arrangement.

What are reasonable expenses? From case law, for offset cases, it seems judges sometimes add up both household expenses and aducate a percentage to each parent. So higher total expense(closely matched) might be a good thing if they order offset but if there is no offset,, it can be a bad thing as there is a higher cost to be covered by child support given the increased costs of shared parenting.

Both mom and I living with parents.

Ex: income minimum wage
1000 rent
120 cellphone
480 car payments
Insurance
Gas
And other stuff


Me:
500 rent
45 cellphone
300 car insurance and gas
Approx. 800 a month legal fees

Costs above make sense and reasonable? What do you typically put for children clothing, and other areas in financial statement?

My source of income is E.I. and I am finalizing a Legal Aid Certificate to pay my lawyer since I don't have a job moving forward. But still have a big bill from my lawyer coming soon for work done in past 6 months.
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Old 01-03-2019, 11:15 AM
rockscan rockscan is offline
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You will more than likely have to demonstrate your efforts to find a job.
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Old 01-06-2019, 11:15 AM
denbigh denbigh is offline
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What do you mean. the time has come...... I recall doing a financial statement soon after separation. For my lawyer. I thought it was just in case went to court, which in the end didnt. Never been asked to do another one. Is this something each party is supposed to do? And why?
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Old 01-06-2019, 11:29 AM
rockscan rockscan is offline
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Quote:
Originally Posted by denbigh View Post
What do you mean. the time has come...... I recall doing a financial statement soon after separation. For my lawyer. I thought it was just in case went to court, which in the end didnt. Never been asked to do another one. Is this something each party is supposed to do? And why?


If you have a motion to change support you have to do an updated financial statement.
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Old 01-06-2019, 02:21 PM
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blinkandimgone blinkandimgone is offline
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A financial statement is a representation of facts, not about adjusting numbers and randomly putting in info based on what people say you should put it. You put down the actual costs, not "What do you typically put for children clothing, and other areas in financial statement?"
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Old 01-06-2019, 02:35 PM
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Janus Janus is offline
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Quote:
Originally Posted by blinkandimgone View Post
A financial statement is a representation of facts, not about adjusting numbers and randomly putting in info based on what people say you should put it. You put down the actual costs, not "What do you typically put for children clothing, and other areas in financial statement?"
I do not believe the question is unreasonable. I'm not sure exactly what I spend on children clothing, so I would certainly be interested in knowing what was a reasonable range. If a number is too far outside of the range that the judge normally sees, it could affect credibility, even if it was accurate. Maybe I do spend $1300 a month on food, but if I put that in my budget it isn't going to look good.

Also, budgeting is hardly about facts. It is about presenting a picture that backs up the relief you are seeking. Obviously it is better if it is grounded in facts, but that is hardly a necessary condition.

Quote:
Originally Posted by HJS
Facts are meaningless. You can use facts to prove anything that's even remotely true. Facts schmacts
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Old 01-11-2019, 08:17 PM
denbigh denbigh is offline
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Okay, good to know. I expect probalby have to go to court eventually and I may end up doing this then. I realize, now that my ex stoppepd paying the right amount of child support, the agreement isnt worded well enough to have FRO/MEP collect it. what is the purpose of the financial statement? if I had to do one, it would show a bare bones tight budget, but a budget that I keep. only because i am very careful and spend little on any extra's. Now if I recieved the child support that i was supposed to, then there would be wiggle room and it wouldn tbe so tight, I might be able to do go to movie with the kids once in awhile, or actually contribute to retirement. Is that the purpose of the statement, to show how you manage on less , or is it suppose to show how much you would spend if you had the proper child support? I would be worried my budget looks good becasue i am not going into debt. I am also not saving anything for the furture and a few surprise car repairs or house repairs and I will be in debt.
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