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Did You Know...
Family Law Software can calculate child support guideline amounts in 21 states.
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Question: How can I specify that all available income will be spent?
Answer: Sometimes you know that your client will spend all available cash.
You want the software to reflect that, and leave a zero balance at the end of each year.
Here is a way to do that:
1. Go to Financial tab > Living Expenses.
2. Click the link at the top left of the Living Expenses screen page that says "[Enter Totals Only]."
3. To the left of the tabs at the very top of the screen are three buttons, "Print," "Export," and "Totals." Click "Totals."
4. Find the relevant party, scroll to the right and jot down the right-most number, After-Tax Cash, for the first year.
5. Close the Totals window by clicking the "Back" button at the bottom.
6. Enter the After-Tax Cash number as the Living Expense total for the first year.
7. Repeat steps 3 through 6 for the remaining years.
8. If you wish, repeat for the other party.
You will see that the living expenses now exactly match after-tax cash.
Note that this is not self-adjusting. If incomes or other expenses change, you have to repeat this process.