Tag Archives: effects of divorce to children

The Financial Aspects of Divorce When Children Are Involved

Ending a marriage is particularly hard when you have children. It is such an emotional time, yet you need to think clearly and rationally as you make financial decisions.

Your child custody attorney Boise ID can assist you with your parenting plan, which includes money matters. Here are some child-related financial issues you are likely to encounter in your divorce proceedings.

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Child Support

The court will determine the amount of child support the custodial parent receives. Each situation is unique, but the amount is typically calculated according to established state guidelines. In Idaho, payments may be made in several different ways: through an employer, online, by check or over the phone.

Shared Expenses

Child support will not cover all of the expenses associated with raising your children. Educational expenditures, extracurricular activities and medical expenses not covered by insurance can add up. Such costs are generally split by parents, and your divorce agreement should identify how payments will be made. Expense tracking apps can help parents record expenses; mobile payment services allow parties to transfer money with little interaction.

Be sure to agree on expenses ahead of time. No one likes to be blindsided by a bill or have to make continuous demands for money. Be precise in your divorce agreement and you may avoid undue conflict in the years to come.

Health Insurance

Most divorce agreements state which parent should provide health insurance for the children. If both parents have access to health coverage, you may choose the most comprehensive or most affordable plan.

Taxes

The IRS only allows one parent to claim each child, so you and your spouse should decide ahead of time who will claim the children as dependents. Your decision can affect who files as head of household, who claims the dependent care credit and who qualifies for the earned income tax credit.

You make many tough choices during divorce proceedings. Be especially careful when making financial decisions — they can affect your children’s lives for years to come.

How to Help Your Child When You’re Going Through a Divorce

Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net

Getting a divorce is often the best thing that you can do for your family. Many marriages end without a lot of drama and everyone in the family is happier as a result of this. However, no matter how well things go, if you have children, they will be impacted by the decisions that you make regarding your marriage. Luckily, there are things that you can do to make it easier for your child to thrive in the face of your new situation and continue to have a life full of love and acceptance.

First of all, make sure that you are taking care of yourself and getting the quality legal representation that you deserve. Find a trustworthy local attorney who can make sure you are treated fairly by the courts. For example, if you are looking for child support lawyers Pasco county, consider a trusted firm like Glaros Law to give you advice that you can trust. Once you know that you are in good hands, you can focus your attention on taking care of your child and giving him or her your attention and love.

Talk to your child’s school about the situation and see if there are things that they can do to help support your child’s needs if necessary. You can talk to your child’s teacher by sending him or her an email or by scheduling an appointment to talk to him or her. Let them know what is going on in your child’s life so that they can keep an eye on the situation and let you know if the child is acting up in class or showing other signs of unhappiness. You will be glad to have the support of the other adults that spend time in your child’s life.

Finally, consider getting therapy for your child if only for a short time. Talk to your pediatrician and listen to his or her advice. Your child may not need any serious help, but it’s always good to get the advice of a pro.