How Much Money Do I Get after a Divorce?
With Tamara A. Marshall, PC, Zanck, Coen, Wright & Saladin
Divorce, Family Law, General Civil Ligation Lawyer
Another really common concern obviously when people are going through divorce is finances.
They have a lot of questions about: am I going to get child support? Am I going to have to pay child support? Am I going to receive maintenance, spousal support or whatever it is you want to call it or am I going to have to pay that? How much money do I get after a divorce? And again the answer is it depends. It depends on your financial situation.
If you go to court there are formulas that the judge will use and I am happy to share those with my clients and they can decide for themselves if those formulas work for them or if there is some other arrangement that works better for them.
So it’s just part of when you are doing a non-adversarial divorce and your maintaining control over your life and your finances, part of what we do is we look at budgets; what is our financial situation going to look like when we go from one household to two households?
And frequently there is a deficit, it makes sense. It’s a big change so I tell my clients we are not the US government, we can’t print money so there’s only two ways to deal with that; one is to increase income or reduce expenses. Usually it’s a combination of both that they come up with and then we just simply look at the cash flow, where is that coming from, what are the expenses in everybody’s households and the new form of their family, what is it going to look like? And we decide on how the income is going to flow and that is something they can do according to a formula or according to what’s best for them.