For many, the idea of going through a divorce can be very overwhelming. Not only do you have to consider the emotional impacts of this process, but there are many financial and legal considerations you must make. As such, it’s important to ensure the outcome of your divorce is fair and represents your best interests. One thing you should consider is requesting a lifestyle analysis to help establish the standard of living you experienced during your marriage. The following blog explores how Los Angeles high net worth divorce attorneys can guide you through this process to help ensure your divorce is fair.
What Is the Purpose of a Lifestyle Analysis?
The main function of a lifestyle analysis is to determine the standard of living established during the marriage when both parties cannot reach an agreement on the matter. Determining the standard of living established during the marriage is a critical part of the divorce, as it is a factor when deciding alimony and child support payments. Though you may assume the declaration disclosure forms you file will help establish your standard of living, this is not true, as these documents simply state the income and debts you have. A lifestyle analysis will help to establish things like the daily spending habits of both parties, what the money was spent on, and how this translates to future expenses.
In addition, a lifestyle analysis can also ensure the financial information provided by each party is accurate and complete. This helps ensure that neither party has hidden assets that may provide them with a better outcome after the divorce.
What Information Is Examined?
When you go through a lifestyle analysis, you must submit several documents to help ensure the outcome is as fair as possible. As such, you’ll need to compile and send the following information:
- Tax returns
- Credit card and banking statements
- Receipts
- Debt and loan information
- Pay stubs
- Business interests
How Can I Ensure This Process Is Fair?
If you want to ensure the outcome of your divorce is fair, especially if you and your spouse cannot agree on the standard of living established during your marriage, you should connect with an experienced attorney. Unfortunately, the divorce process can be incredibly complicated, especially when there are high-value assets and complex properties involved.
It’s important to understand that you shouldn’t rely on any family law attorney to help you through these matters, due to the complex nature of lifestyle analyses. Luckily, the team at the Zitser Family Law Group can help. Our firm has experience handling high-value and complicated assets, so you can trust that your case is in competent hands. We understand how confusing these matters can be, which is why we are dedicated to helping you. Contact us today to learn how we can fight for you.
