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Version 4.07 released April 24, 2002
This screen contains notes, and fixes for this version.
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Notes
This version adds two useful and much-requested features to the Financial Advisor.
Since the Financial Advisor is included in the Family Law Software Bundle and Deluxe Bundle products, and all the products for family law professionals, these features will show up there as well.
1. Net worth calculation.
In previous editions of the Financial Advisor, we calculated the net cash (or net debt) after each year. But we did not show the cumulative effect of those years.
Now we do.
You can enter an investment interest rate that you think any net cash, when invested will earn.
Similarly, you enter a debt interest rate (e.g., credit card rate) that you think any debt will accrue.
Then we carry your net cash, or net debt, from year to year. So you can see your and your spouse's net cash position, or net debt position, several years out.
We calculate this by starting with any assets you entered (home, car, securities, etc.). Then it adds your net cash or net debt for each year, with the appropriate interest rate applied from year to year.
This screen is called "Net Worth so far." We put it at the end of each chapter of the Financial Advisor.
2. Phasing child support for up to three children.
In previous editions of the Financial Advisor, we allowed you to enter one child support amount.
Now, you may phase child support for up to three phases (which will usually correspond to three children).
For example, you can say that child support will be $400 per month until 2010, then $320 per month until 2012, then $290 per month until 2014.
This way, both parties can see the effects of a child support order that diminishes over time (or increases over time, if that's the way it happens).
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Known Problems and Errors
There are no known problems or errors with this
edition.
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Problems
and Errors Fixed
In updating the Massachusetts guidelines, we fixed a problem in the Massachusetts Child Support Calculator program that might under-report the income if the payer was also making support payments on account of a prior marriage.
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