You and your Thousand Oaks family attorney must, in order to achieve an accurate division of the marital estate, develop a budget that outlines all of your combined and separate income and expenses. In fact, a budget should be prepared by your spouse and his or her attorney as well.
In order to make realistic estimates of such miscellaneous expenses as child care, life insurance and the like, your Thousand Oaks family law office attorney offers the following suggestions:
• Daycare: The logical way to project future costs for child care is to refer back to what has been spent in the past for this purpose. Since these considerations change with time, any new developments, such as a child starting school, should be included as the budget is developed. If you or your spouse intend to go back to work, this expense will be added and it can be considerable. Some research into current rates for daycare facilities can assist in providing reasonably accurate estimates of what you might need to spend.
• Insurance Policies: These should also be included as you and your Thousand Oaks family law office create your budget. Simply canceling your life insurance policy because you are dissolving your marriage is unwise. Your dependents’ need for security does not diminish even though your marriage is ending.
• Cancellation Laws: Your Thousand Oaks family attorney should be able to ascertain whether or not you can cancel your policy under the divorce laws applicable in your area. An insurance agent may be able to help you if you decide to replace your current coverage.
If You Have Questions
If you need more information, your Thousand Oaks family attorney can advise you. Call Gary Mitchell at 888-452-1846 today.