Wednesday, January 15, 2014

Child support ideas

Child support can be a source of much dispute in family law.  In Virginia, we have statutory guidelines that give us a presumption based information including gross income of parties, cost of health insurance for the child, cost of child care, and custodial time. So why all the argument.  Payor parents want to support their children, for the most part; but they don't like feeling as if child support is being used to support their ex-spouse/ex-partner.  Assuming that the monthly support meets the child's daily needs, a creative option that some parents consider for amounts that are disputed as being more than what the child has for daily needs is determining whether some part of child support could be contributed to a 529 for the benefit of the child:  the payor parent feels like the money is designated and the recipient parent feels like the child benefits.  It could be a win-win.  This kind of out of the box option is something to discuss with your attorney; there may be other alternative ideas on how to make child support work for everyone, especially the kids.