Child support is an essential form of payment established through family law to help with the total expense of raising children. In most cases, the payment is made by one parent to the other after separation or divorce. The recipient of the amount is primarily responsible for the direct care of the children. In general, the child support system is regulated for the well-being of the young ones. Therefore, if you are not well-acquainted with the law, you might experience difficulties handling your child support expenses. Consider the outlined legal guidelines on managing and reducing your total payments.
Spend More Time with the Children
The amount of child support demanded can change depending on the time spent with the children. Therefore, if you would like to manage and reduce your total payment legally, you should consider dedicating more time to being with the kids. The system takes this aspect into account when calculating child support because it is assumed that you will be covering costs through direct care. You can have more time with your children by creating a mutual agreement with your co-parent. Alternatively, you can go through mediation and court process.
Establish a Binding Agreement
Numerous parents end up in legal and financial trouble due to the lack of foresight during child support negotiations. Often, the agreements made on the amount to be paid are not legally binding. Therefore, if there are changes in the general circumstances, the stability achieved will crumble. To manage your expenses, create a legally binding agreement on child support with the co-parent. This document outlines the amount of money or non-cash items which must be paid within a certain period. A mutual agreement will be recognized as legally binding if you both get legal advice. Also, you will need to attach a legal certificate to the agreement.
Know the Effects of Income Changes
The amount of child support that you are required to pay s calculated based on the taxable income of the past financial year. You should note that changes in your income will have some significant effect. If your income drops and your child support remains the same, you might experience personal financial difficulties. Therefore, you should inform Child Support of the issue as soon as possible. Also, you should note that higher income causes an increase in the payments. So, evaluate your options before making a decision to change jobs.
If you are interested in initiating changes in your current child support situation, consult an experienced family lawyer.