Most divorcing couples do their best to resolve all financial matters during the divorce process. In fact, resolving almost everything at that time is a legal necessity, especially in high asset divorce where many assets are in play. However, exes with shared children may find that over time, certain costs such as extracurricular activities, summer camp, insurance or phone bills may arise that were not considered in the original settlement. Here are some tips for Texas families broaching these issues in their parenting plans.
There are many child-related expenses a divorcing couple may not foresee, but someone with experience in these matters may have a better handle on what is to come. Both parties should speak with their attorneys about child care related costs to consider, as well as their options for covering these expenses. For example, some parents may make a 50/50 agreement while others might split it based on who has higher income.
What happens when one parent wants to buy a child something but the other disagrees with the purchase, such as a new phone or a car? Often, the parent who insists on the purchase will absorb the cost. However, in cases where child support is in play, the recipient may use these funds to cover expenses related to the child whether or not the other parent thinks it is a good use of the funds.
Co-parenting can come with many different challenges, some of which may be unexpected. With the right legal counsel, it is much easier to predict these issues and work out an agreement in advance. Those who cannot agree on a major parenting expense, even several years after a divorce is completed, may need to return to Texas family court to clarify the divorce settlement and parenting plans.