Ever since your children became teenagers, your financial responsibilities piled up, one bill after the other. One child has anxiety issues that require regular therapy sessions with a counselor. And your other child has shown promise as a high school athlete, requiring you to pay more fees related to his sports so he can participate on traveling teams.
But your finances will not stretch that far, even with the monthly child support payments you receive from your former spouse. You worry, but also do a little research. It is time to revisit the divorce agreement. Doing so likely will allow you to get a boost in child support. When things change in your life as well as the lives of your children and former spouse, post-divorce modifications are necessary.
Children’s needs, income swings and relocation
The details within a divorce agreement are not necessarily permanent or impossible to change. There are many instances when divorce agreements require a second look while logical and fair changes get made. Those reasons include:
- Significant changes in the needs of your children: Children grow up and when that happens new financial challenges surface. Usually, those changes relate to health care and education. For example, your son may need braces for his teeth or your child requires therapy for a mental health disorder or even substance abuse. In education matters, additional costs for extracurricular activities and sports surface sometimes. And do not forget that college costs can be expensive, too.
- A raise or drop in income: If your former spouse received a job promotion that includes a significant boost in income that likely means you deserve more in child support. Also, if your former spouse loses his or her job and takes a position at a much lower rate, those child support payments may shrink.
- Remarriage: In these situations, child custody, child support and alimony could be affected.
- A relocation: These situations prove heartbreaking for some non-relocating parents. Naturally, child custody and visitation matters get a second look. In some cases, the non-relocating parent may get custody of the children. The courts always consider the children’s best interests.
Fairness is an essential element regarding post-divorce modifications. Whether temporary or permanent, such changes are necessary when critical elements within a person’s life also change.