A Child Support Law Firm Tampa FL Explains Lump Sum Child Support
When the court imposes a child support order, it is often with the goal in mind to provide them with the necessities for living. The parent with custody of the child may need financial support in order to pay for the child’s clothing, food, medical care, education, and much more. The custodial parent may not be able to provide these needs without monetary support from the other parent. The parents of the child have a couple options when it comes to finding a resolution for child support terms. Parents may attend mediation and negotiate amongst themselves, or will have to go to court over the matter with a family court judge. Either way, it is crucial to the outcome to meet with an attorney from a child support law firm Tampa, FL trusts, such as The McKinney Law Group for insight.
How a Judge Settles Child Support Cases
There are many variables the judge may consider when establishing a child support order. The judge may inquire about both parent’s earnings, to decide whether there is a need for child support, and if the paying parent has extra finances to fill this gap. Depending on the age and health status of the child, more or less financial support may be required to meet his or her daily needs.
What the Money Should Be Used For
Unfortunately, not every parent who receives child support payments uses this money responsibly. Some parents may abuse it by spending it on personal items or services for themselves instead of the child. If you have a hunch that the other parent is misusing these funds, please notify an attorney at a child support law firm Tampa, FL has to offer right away. We can help you investigate further and take action if needed. Ideally, child support payments are to be used for things like:
- Rent, mortgage, utilities (so the child has a safe roof to live under)
- Nutrition and clothing (including healthy groceries and purchasing new, properly-fitted clothes as the child grows)
- Books, backpacks, and school supplies (items required for educational purposes)
- Medical care (premiums, costs for medication, doctor visits, dentist appointments, mental health, etc.)
Preparing for Negotiations
Whether you will be going to mediation or attending court over child support orders, we encourage parents to ask for help from an attorney at a child support law firm Tampa, FL men and women can rely on for advice. Before signing any agreements, we can look over the document to confirm that this resolution is in the best interest of both you and your child. When creating child support conditions, it is imperative that a reasonable middle ground is found between how much a parent earns and how much the other parent needs in financial support. Child support shouldn’t put one parent into severe financial hardship, while at the same time the child’s needs must be met. We can help you figure out what amount you can actually afford to contribute in child support.
The McKinney Law Group: A Child Support Law Firm Tampa, FL Parents Can Rely On
Parents who want to understand the basics of child support, can meet with a child support law firm Tampa, Florida residents can turn to for guidance. During this time, we understand that you may feel emotionally drained, and need legal counsel to get you through. We can help you seek the financial support you require in order to properly attend to your child’s growing needs. Call The McKinney Law Group for a free, no-obligation consultation!
Is Lump Sum Child Support an Option?
Faced with the prospect of paying child support for the next however many years, if you have the opportunity to pay it all at once, does the law allow it? Another question you should be asking is if it is a good idea.
These are questions lawyers from The McKinney Law Group hears from time to time. Though you may be eager to put the child support obligation behind you, it may not be to your advantage. Below are some reasons why, but every case is unique because no two child support situations are the same. To protect your best interests, it may be a good idea to check in with our Tampa, FL child support law firm. The first consultation is free so give us a call to schedule a brief meeting for an overview of your case.
What Is Lump Sum Child Support?
This is a scenario in which both parents agree to a lump sum payment from one parent to the other for all future child support. Sometimes the payment is in like-kind rather than cash. A common example of this is the parent who has primary custody of the child keeps the couple’s house in exchange for the other parent not having to pay child support. The assets from the house they gain would be in lieu of the other parent paying child support. Very likely, your child support lawyer in Tampa, FL will caution you to consider paying child support instead, if you are the noncustodial parent. There are good reasons for this.
The Right of the Child
Child support is intended for the child’s benefit, not the parent’s. The courts are very clear on this. Obtaining more assets via a house or other means is not money in the bank. Money in the bank pays for the child’s clothing, food, and other basic needs. Your lawyer from our child support law firm can review the circumstances and advise you on how likely the court will accept a lump sum for child support, particularly if it’s not in cash.
The Child’s Needs Can Change at Any Time
As already stated, child support is for the benefit of the child. It’s intended to make sure, as much as possible, that their basic needs are met until they reach adulthood. The problem is that life is full of curveballs, and the unexpected happens unexpectedly.
For example, if your child should sustain an injury, then they may require surgery and other treatment not fully covered by insurance. If you had already paid a lump sum with the expectation that you never had to make another payment again, the other parent could petition the court for more support. They simply have to show the court the unexpected expenses and anticipated costs in order to present a strong case. When the court considers that petition, they may also take into account other costs as well, including inflation. You may end up owing much more than the new expenses, and much more than your lump sum payment. In fact, the judge might even disregard the lump sum payment altogether. This is why it’s important to talk to a child support lawyer how a lump sum payment for child support may or may not be a good idea for you.
Call Us at The McKinney Law Group to Learn More
If you have concerns about child support obligations, contact our child support law firm Tampa, FL clients recommend to request a free consult with a skilled child support lawyer.