Anticipating Future Financial Needs of Your Children During Divorce

If you’re going through a divorce and have children together it can sometimes be difficult to anticipate the future of their financial needs.

Child support is meant to help the custodial parent provide housing, clothing and food for the children. Extraordinary expenses, such as extracurricular activities, are expenses not covered by child support. It is usually pretty easy to determine those extraordinary expenses if you have kids that are already engaged in extracurricular activities. It’s typically more difficult to have parents of little ones wrap their heads around how much extracurriculars can cost when they are still paying for diapers!

Attorney Tanya K. Moriarty of Johnson, Sclafani & Moriarty said “I like to talk my clients through what they think the future financial needs of their children will be, for example, summer care for their kids in conjunction with their work schedules.  It really is as simple as making the suggestion and calling the client’s attention to a subject they likely haven’t given much thought!”

Future financial needs could include summer camp, electronic items such as a computer and/or cell phone,  dance lessons, sports lessons, equipment, uniforms, help with purchasing a car, and college expenses. It’s best to discuss these things and make decisions during the process of divorce.

Attorney Moriarty advises both parties to “always try to do what’s in the best interest of your child.”

If you are considering divorce, contact Attorney Tanya K. Moriarty. She can help.