If you're in the beginning stages of a divorce, calculating your various assets can be a convoluted process, and one that could yield unsatisfactory results if completed haphazardly. You will be given a number of forms to fill out to declare the value of your various streams of income and liabilities, but often this information is not easy to parse through as a layperson. If you simply "guesstimate" values when completing these affidavits, you may end up shortchanging yourself in the settlement process. For those who wish for the best possible divorce settlement, it is wise to consider obtaining a Lifestyle Analysis.
A Lifestyle Analysis will create a detailed portrait of your day-to-day living over the most relevant last several years of your marriage. By forensically reconstructing your way of living, you can get a more accurate picture of your real quality of life before divorce came to the table.
An in-depth Lifestyle Analysis will delve into the fine print of your everyday and recurring expenses, regardless of how they may be categorized. It will also involve your tax returns and determining the nature of irregular expenses. It will utilize financial statements and credit reports to create a complete picture of your standard of living and any irregularities that may point to suspect spending within the marriage.
While a Lifestyle Analysis is time-consuming, the picture it paints can be invaluable in receiving a truly fair settlement in your divorce, as well as illuminating where a spouse may be hiding or dissipating assets in anticipation of a divorce.
A Lifestyle Analysis is a significant component of many successful divorces, but little can be won in a contentious divorce scenario without excellent representation. The guidance of an experienced divorce attorney can help you fight for a fair settlement in your divorce while keeping your dignity intact and your rights protected.
Source: Forbes, "Why a Lifestyle Analysis Is So Critically Important For Divorcing Women," Jeff Landers, accessed Nov. 10, 2016