New Jersey families lucky enough to have significant wealth at their disposal often fail to take child support seriously during a divorce. For many with a high net worth, it seems as if child support will not be a concern because each parent has enough income to provide more than adequate care and support for their kids. However, in all divorces, child support negotiations still require careful considerations on the part of both parents.
In our practice, we have seen many couples in a high-asset divorce leave child support negotiations to chance. We believe this is a big mistake, not just for the children of divorce, but for the parents as well.
Addressing financial responsibility for your children goes a long way in improving your parent-to-parent relationship as you raise your kids. Taking care of these concerns also helps your kids feel more secure in the aftermath of divorce. As such, we recommend addressing the following considerations when negotiating child support:
- Health insurance and medical expenses
- College tuition and other educational costs
- Funds for children’s entertainment
- Daycare and babysitting expenses
- Expenses related to any special needs a child may experience
If you are looking forward to reduced conflict with your ex, address child support thoroughly before your divorce is final. While this may not eliminate all child-related conflict, it can help all of you begin to move on and start new chapters in your lives. We encourage you to continue reading our firm’s website for additional information about high-asset divorce, child support and custody in or near Red Bank.