What is a Lifestyle Analysis
In essence, a Lifestyle Analysis establishes what your standard of living was during the marriage. It reconstructs:
1) The day-to-day living expenses incurred during your marriage and
2) The spending habits of both you and your husband.
Generally, a Lifestyle Analysis has an emphasis on the last several years of your marriage, and it usually includes, but is not limited to, an analysis of:
All financial statements (bank, brokerage, credit cards, etc.)
personal and business income tax returns
Recurring and ordinary expenses within each category of expense (clothing, food, housing, entertainment, travel, etc.)
Unusual, non-recurring and/or seasonal expenses.
At first, compiling the data needed for a Lifestyle Analysis might seem like a laborious, time-consuming chore –and the last thing you want to concern yourself with as you start navigating the rocky waters of divorce.
But, please, keep reading.
The truth is, a carefully-prepared, comprehensive Lifestyle Analysis could very well make the difference between a financially successful divorce settlement agreement and one that is considerably less so. What’s more, a Lifestyle Analysis can also prove an incredibly valuable tool for uncovering assets your husband is trying to hide from you and/or any dissipation of marital assets (like when your husband took his girlfriend to Hawaii). So, make no mistake about it. The process of preparing a Lifestyle Analysis absolutely deserves your time and attention –even during what can be the stressful initial stages of the divorce process.