What is a property settlement, and how do I enter it?
A property settlement is an arrangement under which one spouse will pay another a fixed amount in the years immediately after the divorce. This is typically done because there are not enough liquid assets to equalize the property division in the year of the divorce. Property settlements do NOT appear on the state’s financial form. […]
How do I enter separate property?
On the “more info” screen for the asset, you will see a section for entering separate property. You will be able to specify that the asset is entirely separate property of one party or the other, or partially separate, as shown below.
How do I enter IRA and 401(k) contributions?
Enter IRA and 401(k) contributions on the more info screen for the IRA/401k asset. (In the Cloud, click the green 3-dots button.)
How can I enter an expense that ends at a future date, such as child care, or when children leave the home, or expenses for a home that is being sold?
There are expenses that you know will end at a time in the future. These include childcare, and also expenses that will end when a child leaves the home or becomes emancipated. Go to the line where you enter the expense, and click more info (the green 3-dots button in the Cloud software). On the […]
What do you think about the prohibition against “double dipping?”
“Double dipping” is the notion that one should not use the same asset both for property division and for child and spousal support. Most typically this concept arises in situations where one party wants to use the income from the same asset for both property division and alimony/support. This usually comes up in the context […]
Can I import data from Simplifi, Mint, Rocket Money, or other software?
No. You can not import from any software into Family Law Software. .
Does the Child Credit calculation stop automatically when the child turns age 17?
Yes.