Recently, this Colorado Springs divorce and family law blog discussed gray divorce and the impact that the end of a marriage can have on individuals who separate later in life. While gray divorces are by no means easy, individuals who choose to end their relationships when they are younger and have children at home can face additional challenges, when compared to those whose divorce-related concerns are primarily financial. One of the biggest issues parents must come to terms with when they end their marriages is child support and how they will financially support their children.
There are two primary ways that parents may create child support plans: agreements and orders. If the parents are able to work together and negotiate a financial plan that serves the child's best interests, meets any applicable state guidelines regarding support and demonstrates that the parents will have a shared responsibility for the child's financial well-being, then a court may sign off on a party-created child support agreement.
If, however, divorcing parents cannot work together to create such a plan, then the family law court managing their divorce may step in and establish a child support order that binds the parents to certain payment schedules and terms. But, readers of this post are reminded that jurisdictional rules and state laws can change. Those who wish to learn more about creating child support plans are encouraged to speak with their family law attorneys.
Child support is a necessary component of ensuring that a child has what they need to succeed in the wake of their parents' split. Attorneys who include family law in their practices can help individuals create, modify and enforce the child support agreements and orders that provide their kids with the financial means to thrive.