Getting a divorce is hard enough without having to think about how it affects your future and lifestyle. As a divorcing woman, it’s important that you take time to understand how your standard of living could be affected by divorce. If it’s affected severely, it’s possible for you to seek alimony and compensation to offset the changes.
Financial documents, known as financial affidavits, are extremely important when you’re going through a divorce. These documents, when completed thoroughly, show your finances and the finances of your spouse together and separately. It shows your attorney your current lifestyle and the courts the lifestyle you wish to maintain.
Why are financial affidavits important?
These affidavits are necessary to help determine how to divide your assets. They determine if you qualify for spousal support or need child support. Errors in the documents could result in you receiving less than you deserve, which could impact your standard of living.
How can you show the courts and your attorney the lifestyle you have?
It’s a good idea to write it down. Keep all your financial records at the ready, and prepare a statement on your day-to-day expenses. Talk about your current spending habits and your spouse’s current spending habits. Note any discrepancies, so the court can review them if necessary.
This analysis of your lifestyle is necessary, because the court and your attorney gets a better idea of what your life is truly like, not just what it looks like on paper. It determines how much you spend month-to-month and yearly, giving you an idea of the budget you want to develop after the divorce as a single person or parent.
Be prepared for divorce by knowing what your standard is living. That way, you can fight to maintain it in the future with evidence to back your claims.