Financial Stability in Two Households
This is splitting the day-to-day finances of one household into two. Learn how to balance income and expenses for both of you (and children), assess future earning potential and explore various financial support types, like child support, spousal support (alimony/maintenance) or direct expenses.
Cash Flow - Making Two Households Work Financially
An introduction to the cash flow analysis in divorce, focusing on income and expenses post-divorce and the ability of parties to support themselves (and children).
Income - How to Calculate What you Earn or What you Should Earn
In order to determine if you have sufficient money to meet your reasonable financial needs, you need to map out income.
Cash Flow - Is Support Needed?
Once you have a budget and income, the next step is to determine if you need support. Learn about this fundamental questions and types of support to consider.
Spousal Support - Everything you Need to Know
Learn all the considerations and elements of the analysis of spousal support, one of the most challenging financial aspects of divorce.
Child Support - Providing Financial Stability for the Children
Learn the key aspects of child support, including its purpose, calculation, enforcement, modification, and potential impact on your post-divorce financial situation.
Direct Expenses as Support
By allocating specific expenses to each spouse, direct payment arrangements provide transparency, accountability, and flexibility, allowing for a more tailored approach to financial support that meets the unique needs and circumstances of the family.
Children’s Direct Expenses as Part of Support
Learn the practicalities of implementing agreements on sharing direct expenses for children after divorce, aiming to provide clarity and guidance and avoid potential conflict.
Combination of Support Types
Integration of support types, like spousal support, child support and direct payment of expenses, can provide for unique agreements tailored to your specific circumstances.
Lump Sum/Buyout of Support Payments
Learn the pros and cons of making a lump sum buyout of support.
Family Support
Also known as simply “support,” one combined payment permitted in some jurisdictions that encompasses both spousal support and child support, without differentiation between the two.
Recipient
The spouse that receives financial support from the other spouse (the payor).
Electronic Transfers
A support payment method where funds electronically move through bank transfers, online payment platforms, or electronic funds transfer (EFT) systems, providing convenience and efficiency for both parties.
Permanent Spousal Support
Also known as indefinite spousal support or tong-term spousal support, a type of financial support provided to a spouse who is unable to achieve financial self-sufficiency due to factors such as income, age, health, or other circumstances.
COLA
Also known as cost of living adjustment, a periodic increase in financial support, such as alimony or child support, to account for changes in the cost of living, typically based on inflation or other economic factors.
Remarriage Clause
A provision in spousal support agreements or other orders stipulating that payments will terminate if the recipient spouse remarries or enters into a new domestic partnership.
Direct Payments
A support payment method where the paying party makes support payments directly to the receiving party through cash or a check.
Income
Money or other financial benefits that you receive in exchange for providing goods or services, or as a return on investments, often in the form of wages, salaries, tips, bonuses, commissions, rental income, interest, dividends, capital gains, and other sources.
Net Income
Cash available to an individual calculated by taking all money earned, including employment earnings, investments, and any other financial inflows after all taxes and other compulsory deductions are paid.
Payor
The spouse that provides financial support to the other spouse (the recipient).
Retirement Distributions
Withdrawals from retirement funds that are typically considered income and may be taxed or subject to a penalty depending on the type of asset and timing of the withdrawal.
Mandatory Income Deductions
Required funds removed from gross income prior to receiving the funds, such as taxes.
