Thinking about the money when you are divorcing isn’t always easy. You have to consider what the court might say about support payments. There are two types that you might encounter. One is child support and the other is spousal support.
Child support payments are determined by a formula that is set by the court. There are other aspects that you might have to work out with your ex that are necessary in addition to the court-ordered regular payments. These have to do with things like uninsured medical bills and school supply costs. Determine how these will be handled now to take away the potential stress later.
We know that you probably don’t mind having to support your children, so the child support issue might not bother you like the possibility of alimony. These spousal support payments might be a thorn in your side, but the good news is that you do have some room for negotiation with these.
There is a chance that you and your ex can work out the terms of the alimony payments together. If you don’t want to have to pay regular monthly amounts to your ex, you might need to determine whether you can make a lump sum payment or not. This option won’t save you money, since the lump sum has to equal the same amount as what the monthly payments would be.
We can help you evaluate what might happen with support payments. Whether you are worried about spousal or child support, or maybe even both, knowing what is likely to happen might reduce your concern and help you plan.