LOS ANGELES, CA--(Marketwire - August 23, 2010) - Los Angeles Family Law Attorney Mark B. Baer has discovered a valuable government report that will help family law attorneys, family law mediators, financial advisors and estate planners in issues involving child support or estate planning: The report from the United States Department of Agriculture, "Expenditures on Children by Families" breaks down the real costs each year on what parents can expect to spend to raise a child to the age of seventeen.
Citing the latest statistics compiled by the U.S. Government, Baer states, "In 1960, average expenditures on a child in a middle-income, husband-wife family amounted to $25,229.00, or adjusted for inflation, the costs for raising that child from birth to age 17 was $182,857.00. That same child, born in 2009, will now cost approximately $286,050 to raise them to age 17," he says, "which represents a 22% increase in cost."
"When determining the amount for child support, federal law requires that it be determined in accordance with a guideline," states Baer. "What I'm suggesting is that trusted advisors involved in child support matters also refer to the USDA Calculator as a point of reference for the estimated costs of raising that child in any given year."
Baer utilizes the calculator in his practice and finds it invaluable in providing clients with a realistic expectation of the anticipated costs related to their minor children. Other advisors, who have read Baer's blog, www.markbaeresq.com/Pasadena-Family-Law-Blog.aspx, also give credence to the value of using the calculator.
A financial planner comments, "Thanks so much for this. It's also helpful in financial planning." A forensic accountant adds, "This is a great blog; very informative. I am a forensic accountant and an expert witness and appreciate the time and effort needed to produce a quality product." Finally, a family law attorney writes, "An absolutely relevant eye-opening study. As both a single mother and a domestic relations attorney, the information you have presented is very valuable, both personally and as a negotiating tool in child support matters."
Mark B. Baer has practiced law in Los Angeles for nearly twenty years with an office in Pasadena, CA. For more information, please visit: www.markbaeresq.com.
Contact Information:
Please contact:
Mark B. Baer, Esq.
Mark B. Baer, Inc., APLC
Office: (626) 389-8929
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