Divorcing Pennsylvanian parents have more than just your own financial situations and well-being to consider. You also need to decide how you will continue supporting your child. Marinaro Law can help you understand how best to meet their financial needs even after your source of income changes with your divorce.
Generally speaking, the spouse that does not get full custody of the child will have to pay a form of child support. In essence, these payments are meant to supplement the income lost by the other spouse. The money can be used for a number of necessities like:
- School payments
- Medical payments
- Food or water
School dances, field trips, and other enrichments can also be covered by these payments, though it’s likely a wise idea to prioritize the things that are necessities first.
It should be noted that there’s a limit on how long child support payments can last, as well as a limit on how much money each payment can be. These payments are not set in stone, either. For example, if your ex-spouse runs into financial hardships, the child support payment amount may be reduced. Generally speaking, once the child reaches the age of 18 or 21, child support payments will stop.
When constructing a financially stable future for your child, you need to take all possibilities into consideration. If you’re interested in learning more about the financial options available to you, take a look at the link here, which leads to our web page on child support payments.