Dealing with financial changes long after a divorce is final

On Behalf of | May 26, 2017 | blog |

When an Ohio family walks through a divorce, it will bring significant changes for every member of the family. Even between two amicable parties, the end of a marriage will certainly impact finances, where family members live and much more. These are major, life-altering changes, and for some parents, life continues to change long after a divorce is final.

For some, life changes can take a significant toll on a person’s financial capabilities. When this happens, it could mean that a custodial parent is no longer able to properly care for his or her child with the current amount of support, or it could mean that the supporting parent is no longer able to meet the terms of the current support order. Either way, there are legal options available.

Who can modify an existing support order?

If the terms of your current support order are neither workable nor practical for your current circumstances, you may seek a modification. A modification is only possible by following the proper legal channels. A parent who believes that he or she needs more support may seek to modify the current order if there have been significant changes in financial circumstances, including:

  • Child with a new, serious medical diagnosis
  • Changes in educational needs
  • Significant changes in health insurance coverage

The custodial parent may take action to seek additional support if recent circumstances led to financial duress, thereby impacting his or her ability to care for the children. The paying or supporting parent may also have this option if he or she experienced the following:

  • Job loss
  • Significant reduction in pay
  • Birth of additional children from another relationship

Ultimately, any change granted by the court must not harm the well-being of the children in any way. A parent seeking a modification would be wise to follow the required legal steps in order to meet his or her legal objectives.

A verbal agreement is not enough

While it is beneficial when two parents can verbally agree on matters pertaining to child support, these agreements are not legally binding. If you need to seek a modification, it is always wise to go through the proper channels and follow the appropriate steps needed to secure the changes you need.

Do you have concerns over your ability to keep up with your child support payments or your ability to care for your kids on the current amount of support you receive? You have the right to know your options, but you would be wise to act quickly for the benefit of your children and the protection of your financial interests. Consulting a family law attorney may provide the answers you seek.