When parents decide to separate, one of the most crucial decisions they have to make is about child support. Child support is the monetary payment from one parent to the other for the upbringing and welfare of their child/children. While there are state guidelines for child support, parents can also create their own private child support agreement. In this article, we will discuss an example of a private child support agreement.
A private child support agreement is a contract in writing between the parents that stipulates the details of child support, including the payment amount, schedule, and responsibilities. Private child support agreements can be more flexible than court-ordered child support and can be tailored to suit the specific needs of the family. Private child support agreements can be made between the parents themselves, their lawyers, or through a mediator.
Here is an example of a private child support agreement:
1. Payment Amount: The non-custodial parent shall pay $500 per month in child support for the care and support of the child.
2. Payment Schedule: The payments shall be made on the first of every month and shall continue until the child reaches the age of 18 or graduates from high school, whichever comes last.
3. Payment Method: The payments shall be made by automatic bank transfer to the custodial parent`s bank account.
4. Extraordinary Expenses: In addition to the monthly child support payments, the non-custodial parent shall pay fifty percent of any extraordinary expenses, including medical expenses, education-related expenses, and extracurricular activities.
5. Modification: The child support agreement can be modified by mutual agreement of the parents or by order of a court of competent jurisdiction.
6. Termination: The child support agreement shall terminate when the child reaches the age of 18 or graduates from high school, whichever comes last.
7. Governing Law: The child support agreement shall be governed by the laws of the state of [insert state here] and any disputes arising from the agreement shall be resolved in the courts of that state.
As you can see from this example, a private child support agreement can be specific and tailored to meet the needs of the family. It is important to note that while private child support agreements may be more flexible, it is still crucial to ensure that they comply with state laws and regulations.
In conclusion, a private child support agreement is a valuable option for parents who want to create a child support arrangement that meets the specific needs of their family. It is essential to consult with a lawyer or mediator experienced in family law to ensure that the agreement is legal and binding.
