How to Deal With Financial Issues That Come Up With Your Ex after Divorce
Unfortunately, it can be difficult to anticipate every single financial situation that will come up after a divorce when you share a child. Even if custody and child support is figured out, it doesn’t address who will pay for summer camp, college, a new phone or car for your child if needed, etc. Many parents find themselves regularly discussing money issues after a divorce as an integral part of the co-parenting process.
This is where an attorney who has helped a number of divorcing parents—and who has some ideas of what you can anticipate in terms of unforeseen costs later on—can help. Below, we discuss some tips on how to handle money issues with your ex after divorce:
Addressing How to Split Costs in Your Divorce Agreement
Some couples choose to write into their divorce agreement that they plan to split costs 50/50, while others choose to split the costs based on what’s proportional with their incomes. The latter can be especially helpful if you anticipate your finances or employment changing in the future.
It’s also common for couples to have different priorities when it comes to their child’s activities. For example, it might be important to one parent for their child to start or continue with music lessons, while the child continuing to participate in sports might be more important to the other parent. When it comes to activities like these, it may make sense to assume that, if the activity only matters to you and not the other parent, you will assume the full cost of that activity. This can also be helpful when it comes to covering small things that you cannot agree on.
Throughout the divorce process, many people will say “communication is key.” Obviously, while this is important during the divorce, it’s also very important when issues come up in co-parenting situations. It can be very helpful to keep things civil with your ex, especially when it comes to staying on task regarding who covers what in your divorce settlement (in case one of you forgets a particular responsibility). These reminders are easier when you have everything in writing, and when you and your attorney have preemptively addressed that x, y, and z should be done when a new expense comes up.
Involving Your Children in Financial Discussions
While most couples would agree that involving children in financial discussions when they are young isn’t a good idea, some families do find that, as children get older, including them in discussions on how particular items are going to be paid for—such as a car or new Smartphone—can help teach them about financial responsibility.
Work With a Skilled Florida Divorce & Family Law Attorney
Going through a divorce is difficult enough without also having to be reminded of the experience every time a financial question comes up related to your children. By working with a skilled family law attorney—one who has seen these issues come up again and again and can thus help you prevent them by including as much detail as possible in your divorce agreement—you reduce your chances of this continuing to be an emotionally taxing experience in your life.
Contact our West Palm Beach divorce attorneys at the office of William Wallshein, P.A. today to find out how we can use our extensive experience to help you and your family.