How to Handle Child Related Costs When Divorced
When a couple decides divorcing is the best path for their family, endless questions begin swirling around in their minds at rapid speeds, consuming them 24/7. Divorce stress often is equated with the stress levels of a loved one passing.
Often, divorcing couples struggle with how finances and timesharing with their children will be divided once all the costs that come along with that are finalized.
When a couple uses a litigated court divorce, it often becomes a win-lose situation, and the emotional tension is through the roof. However, when married partners utilize the Collaborative Divorce model, they are paired with divorce experts (would this second link be better as the one to “Find A Professional” on the group website?) who are committed to a peaceful divorce resolution that is harmonious with the couple’s wishes.
When we first meet with our clients looking to divorce and who have children, we are often asked how child-related costs will be handled once the divorce is finalized. Here are a few insights we share with them:
- First, make sure both of you are keeping your children’s best interests in mind
- Make a list of the future child expenses – college, schooling, vehicle, clothes, etc.
- Plan for the unexpected – medical expenses not covered by insurance, life insurance, unplanned school expenses, cell phones, and camps to name a few
- Keep the lines of communication open – If strained, work with a divorce coach
- Having an open mind can help when a compromise is needed
When you finalize your Collaborative Divorce agreement, it should have outlined in great detail in the parenting plan how children’s expenses and co-parenting will be dealt with.
At Collaborative Divorce Professionals, Inc of Florida, our goal is to help you learn about all the options available to you in your divorce and paternity matters. We also want to familiarize you with the benefits Collaborative Divorce has over litigation, and how the Collaborative Process can benefit you, your spouse or another parent, and your children. Contact us today!
Note: This information is general in nature and should not be construed as legal/financial/tax/or mental health advice. You should work with your attorney, financial, mental health or tax professional to determine what will work best for your situation.