Your children are the light of your lives, but it can be expensive to keep the brightness so high. Americans spend hundreds of thousands of dollars bringing their children to adulthood, and their other parent should continue their fair share of that financial responsibility.
Families will spend over $200,000 on average to raise a child. That comes out to over $12,000 each year to provide housing, food, health care and so much more. Child support after a divorce can help you bring your child up how they deserve, but you’ll have to take action to keep the payments up to date.
There are a few instances when the court will likely modify your agreement:
- Finances: When your spouse sees a big change in the money they have coming in, it could be time to look at modifying your agreement. If they can comfortably afford to offer more support in raising your children, you could reassess the monthly amounts.
- Expenses: As children grow, the associated costs often do too. You could get a higher amount than your current payments when issues like ongoing medical costs contribute to a greater need for more help. You’ll likely want to come prepared with information to show for certain how much more help you need.
- Eligibility: Common causes for ending the process revolve around civil matters like emancipation, marriage or adoption. Without these early limiters, your children are typically only eligible for support until the age of 18, unless they meet certain specifics like continued enrollment in high school or vocation studies.
It can cost a great deal of money to bring your child up in this world, so make sure you’ve got the help you need to do it. Getting your support payment modified when necessary can make sure you can provide the necessities for years to come.