Things to Consider When Creating a Child Support Arrangement

Generally speaking, it is always a good idea to work out disputes with your spouse outside of the courtroom. Child support is certainly no exception, and you can agree upon a plan that serves everyone’s best interests without pursuing a litigated trial. But what exactly should you consider when creating a support arrangement? How can you negotiate for the best possible outcome for you and your little ones? Let’s find out:

Think About College Tuition

If you and your ex agree that saving for college is important, you might want to put everything in writing. Under normal circumstances, college tuition is not covered by court-ordered child support. Why? Because once a child reaches the age of 18 or graduates high school, they are no longer eligible to receive child support. If you think you need help paying college tuition, you should speak with your ex and figure out how you’re going to continue paying for this. The good news is that you can create any kind of agreement you like outside of court. You even mutually agree that college tuition is too expensive.

Think About Extra-Curricular Activities

Certain extra-curricular activities may also be ineligible for child support funding. This is why you should consider things like sports, swimming lessons, music lessons, camping trips, ski trips, and many other related expenses as you create your child support plan. These expenses will not be covered under court-ordered child support, so it’s best to put an agreement in place outside of court.

Think About Transport Costs

In addition, you might want to consider transport costs as you draft your child support agreement — especially if you and your ex live far apart. This may or may not be covered under court-ordered child support. Creating a clear plan outside of court ensures that spouses can easily transport the children across the state if need be. Without these funds, both parents may suffer and spend less time with their young ones.

Consider Inflation

Another overlooked issue for many parents is inflation. If you are divorcing with a young infant, you may be looking at well over a decade of child support. The amount you agree on today may not be enough to cover basic expenses in the future — especially since many experts say that the 2020s will be the “decade of inflation.”

In addition, you have to consider the fact that your child will consume more food and engage in more extra-curricular activities as they get older. A COLA (Cost of Living Adjustment) clause can help, and you can always modify your child support arrangement at a later date if circumstances change.

Where Can I Find a Qualified, Experience Divorce Attorney in Trenton?

If you’ve been searching for a qualified, experienced divorce attorney in Trenton, look no further than the Shochet Law Group. With our assistance, you can strive for the best possible results in a confident manner. Book a consultation with us today and get started on the details of your child support plan. We can also help with alimony, child custody, property division, and virtually any other aspect of your divorce. Reach out today.

Sources

1. https://www.reuters.com/business/finance/global-markets-decade-pix-2021-06-14/
2. https://www.firstcoastnews.com/article/entertainment/television/programs/gmj/florida-affordable-4-year-college-tuition-country/77-93198ae6-c47d-48ea-a4c7-e4cf743f0a68

Shochet Law Group

409 N. Main Street
Trenton, FL 32693
(352) 354-4518 or (877) 548-9888
[email protected]

If you have further questions about this article or legal concerns, call 800-672-3103