Your Lowell family law attorney will not only address the immediate issues of your divorce; he or she will also focus on how you will be after the divorce. For this reason, your Lowell family law attorney may suggest creating a financial budget for your expenses after divorce. Here are a few ways to estimate your expenses.
The historical cost valuation takes those expenses that were incurred during the marriage into account. This type of valuation may be appropriate to use when determining the approximate amount of expenses when the situation will stay similar. For example, a spouse may retain the family home and the mortgage and utility expenses may be about the same.
Historical costs may be used to help predict potential current costs. However, if the spouse will be getting a different residence, the current costs will take into account just the housing and other expenses associated with that particular spouse and not the other.
Your Lowell family law attorney can assist you with creating a budget of this nature. He or she may be able to review the proposed budget, eliminate duplicate entries and determine those expenses that are historical, current and future. He or she can also assist in making sure that the other spouse has fully disclosed all assets, liabilities and income. If you would like assistance with your post-divorce budget, contact a Lowell family lawyer from the Law Office of Bruce A. Gage at (978) 384-1078 or (877) 829-0831.