Top 6 Costly Mistakes When Completing an Income and Expense Declaration
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The Income and Expense Declaration (IED) is probably the most important
document filed in Family Court. Why? Because the family law judge relies on it in
making support and financial decisions. Those include financial issues include child
support, spousal support, and award of attorney fees.
There are six items you need to consider as it is important to tell a complete
story.
Key mistakes to avoid in order to properly filling out a California Income and
Expense Declaration is as follows:
1. Not including the income of the other Party.
2. Listing your income as a W-2 or self-employed income.
3. Averaging your income if you’re not a W-2. Your income could possibly
fluctuate. For example, if you run an outdoor business, your income could
lessen during the winter months.
4. Be sure to include unreimbursed employee expenses.
5. Listing actual and anticipated expenses.
6. Make sure you list your expenses from legal fees, such as an attorney or
paralegal.
Do not be afraid to use attachments if necessary to make sure the Judge has as
much information as possible.
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