When California couples get divorced, they will still have to deal with each other occasionally if they have children, especially if their kids are younger or still in school. Even if parents are able to agree on how to share their time with the children, dealing with the financial costs of raising the children can be more difficult. However, there are ways parents can reduce the financial stress.
Ex-spouses should be able to talk about finances together whether it be face to face, over the phone or even by email. People should consider looking into the future when talking about child-related finances, especially as the budget will change as the kids get older. It is usually recommended that parents talk about the budget for their children once a month, though people who have a good relationship after the divorce may wish to talk more often.
When there are disagreements about child-related finances, people should turn to the divorce decree. This is the document that makes the divorce official. It should spell out the financial responsibilities of each parent, such as who is responsible for the costs for health care, school and any extracurricular activities. Writing down every detail in the divorce decree can prevent arguments in the future.
Most people want the best for their children. However, when the actual costs of raising kids are brought to the forefront, some individuals may start to panic especially if they were not previously involved in tracking expenses or determining the budget. A family law attorney may assist with breaking down the costs of parenting and outlining those costs in the divorce documents to ensure that both parents are actively taking financial responsibility for their children and that the costs do not fall disproportionately on one parent.
