Budgets and Living Expenses in an Oregon Divorce: Mediator Matthew House, J.D.
Most divorce mediation processes require one or more budgets, which Matthew will help you develop.
Why it Matters:
Common Mistakes or Oversights:
How Matthew Can Assist You: In addition to correcting the above mistakes and oversights, Matthew is familiar with the likely costs of post-divorce life. He can also point out where your estimates might be unrealistically high or low.
What to Prepare: Your intake file will include a budget list for you to complete. You will provide estimates of your anticipated expenses if you are able to do so. Otherwise, Matthew will assist you during your sessions. If you have already prepared a budget, you're off to a great head start. Matthew will ask you questions that will probably result in some additions or changes to your existing budget to fit within the objectives of the mediation process. You do not need to provide proof of your expenses unless the other party disputes the estimates, which is unusual. :
What You'll Do In Mediation: Matthew can help you craft a budget from scratch if you don't know how to estimate your expenses, or he can help you fill in the gaps in what you have prepared on your own. If your budgeted items exceed your resources, he can help both of you determine how you can modify your budgets to the extent necessary with the least impact to your children.
- You will need adult budgets and a child-specific budget if at least one joint child is younger than 21.
- You will need only adult budgets if one or both parties believe that spousal support should be discussed, if you have no joint children younger than 21.
Why it Matters:
- Both parties need to be able to afford their own expenses and their legal responsibilities to their children.
- Many parents agree to share certain expenses on a pro rata basis that child support is not expected to cover.
- Spousal support, if any, is based on one party's need and the other's ability to pay.
- If the calculated child support amount should be adjusted, the budget will show the reasoning.
Common Mistakes or Oversights:
- Relying too heavily on the pre-divorce budget, which may not be realistic post-divorce
- Not averaging expenses that are not incurred on a monthly basis
- Assuming that each party's expenses for a particular category will be equal
- Underestimating irregular or long-term expenses (such as car repairs or home maintenance)
- Double-counting some expenses that may appear to belong to multiple categories but should be reported only once
- Misallocating discretionary contributions, such as retirement savings
How Matthew Can Assist You: In addition to correcting the above mistakes and oversights, Matthew is familiar with the likely costs of post-divorce life. He can also point out where your estimates might be unrealistically high or low.
What to Prepare: Your intake file will include a budget list for you to complete. You will provide estimates of your anticipated expenses if you are able to do so. Otherwise, Matthew will assist you during your sessions. If you have already prepared a budget, you're off to a great head start. Matthew will ask you questions that will probably result in some additions or changes to your existing budget to fit within the objectives of the mediation process. You do not need to provide proof of your expenses unless the other party disputes the estimates, which is unusual. :
What You'll Do In Mediation: Matthew can help you craft a budget from scratch if you don't know how to estimate your expenses, or he can help you fill in the gaps in what you have prepared on your own. If your budgeted items exceed your resources, he can help both of you determine how you can modify your budgets to the extent necessary with the least impact to your children.