• Additionally, when capping the amount that one pays for add-ons such as extracurricular activities, camp, childcare and other expenses, it is important to also include a provision that such expenses are subject to the CPI. If, for example, the cost of your childcare increases due to inflation, you do not want to be left holding the bag by yourself for the increase. The same applies if the cost decreases, of course.
Financial advisors play an important role as their clients navigate significant life changes. Being armed with the information that will help get your client through these challenges in a financially sound manner is imperative, as it will reinforce to your client that they can count on you to protect their best interests in many aspects of their financial life.
Lisa Zeiderman, Esq., CDFA, CFL, is a matrimonial and family law attorney.