The New Rules of Divorce by Jacqueline Newman

Author:Jacqueline Newman
Language: eng
Format: epub
Publisher: Atria Books
Published: 2020-01-06T16:00:00+00:00

FINANCIAL DIVORCE 101

There are four financial “buckets” in a divorce: (1) asset distribution, (2) spousal support, (3) child support, and (4) extra child-related expenses. While I go into depth on these topics later, the basic definitions are:

Asset distribution: how your assets are divided

Spousal support (a.k.a. “alimony” or “maintenance”): when the lower-earning spouse may receive financial support from the other

Child support: how much support the primary caretaker will receive for the support of the children

Extra child-related expenses: these are payments made to third parties on behalf of the children that are not covered in the basic child-support payments (e.g., Sienna’s ballet class; Brody’s swimming lessons). In some states, this bucket can sometimes be merged into the child-support bucket.

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