BACK TO SCHOOL! – WHO PAYS?
It’s that time of the year again as we try and fiscally recover from our festivities to pay for the school uniforms and shoes, the new laptop and all the other “must have” accessories on the school list.
Child support is calculated based on both parties’ incomes, but it will never be sufficient to cover all the expenses. It is critical to understand with child support, it is the government whom is creating the obligation for the financial support of the children, but it does not cover all of your child’s expenses.
Parents can enter into Binding Child Support Agreements which will operate until such time as the children turn 18 years of age. There are also Limited Child Support Agreements which usually operate for a set amount of time, which is generally about three years.
These agreements can provide assurance to both parties that they will continue to have “Equal Shared Parental Responsibility” of their children’s welfare by supporting the payment of their education so that the children are not deprived. The agreements can be drafted to ensure that tuition fees are paid on time or the children can have their soccer or netball uniform and their memberships paid on time.
While parent’s squabble over who should be paying for their child’s expenses, ultimately the major loser from these arguments will always be the children. As each parent absolves themselves, by blaming the other, it is the children who have been teased and bullied when they turn up without the proper equipment or are excluded from events with their friends. Unfortunately, we have often seen scenarios where medical attention is denied to the child because of the parents arguing over who should pay for the children’s needs.
A correctly drafted Child Support Agreement will provide assurance, to both parents that the money is not being “wasted” on the other parent’s extravagances and is being directed specifically to your children’s needs.
If you would like more information to ensure that parental responsibility is equally shared financially as well as emotionally, don’t hesitate to call us on 5679 8016, or email at firstname.lastname@example.org .