Albuquerque Family Law Attorney – Budget In Your Divorce
A great many individuals contemplating divorce are completely unaware of the importance of budget in your Albuquerque divorce - and yet the outcome of so many cases literally depends on it! There are at least two major ways that your household budget has a tremendous impact on what happens in a divorce proceeding.
A great many individuals contemplating divorce are completely unaware of the importance of budget in your Albuquerque divorce – and yet the outcome of so many cases literally depends on it! There are at least two major ways that your household budget has a tremendous impact on what happens in a divorce proceeding.
The first relates to what your budget was before the divorce, i.e. what kind of income and expenses you and your spouse had together, and how much you spent on all areas to maintain the household. The second situation comes after the divorce, considering what your budget would be when an award is made to the divorced spouse.
When alimony amounts are calculated and awarded in a court decision, they stem from just two components – your ability to pay alimony to the divorced spouse, and your actual needs as well as your spouse’s, in the aftermath of the break-up. Where does this information come from? Yes – the budget. You can be way ahead of the game by preparing an accurate budget of household income and expenses from the pre-divorce period.
This will be used by the court to determine arrangements which need to be made while the case is in progress, and again after a decision has been rendered. It is no exaggeration to say those final court decisions are often made on the basis of accurate information contained in the budget submitted to the court.
A surprising number of people involved in these proceedings are reluctant to prepare this kind of information, however, and are even less willing to supply it to the court. Even the best legal representation will have difficulty advocating for a client who cannot conclusively demonstrate the daily, weekly, and monthly costs of maintaining the pre-divorce household.
Preparing an Albuquerque budget in your divorce
It’s a fairly simple matter to find a sample budget form online and download it for use, and then you should contact Albuquerque’s premier divorce attorneys at the New Mexico Legal Group. Prepare your Albuquerque divorce budget ahead of time, and achieve better results!