Modifications to Child Support Agreements
Child support agreements are created in divorces in which one parent will retain primary physical custody over a child, while one parent financially supports that child through regular payments. The payment amount is established fairly firmly during divorce negotiations, but this amount is not necessarily set in stone. In certain circumstances, the payment amount can be modified to suit a new situation. Being prepared for these possible modifications is important to prevent potential surprises in payment amounts.
Reasons for Modified Child Support
Child support payments can change for a lot of different reasons. For instance, some of the more common reasons for modifications to child support might involve the following:
- Changed financial need of child
- Increased income of receiving spouse
- Decreased income of paying spouse
- Remarriage on the part of receiving spouse
These changed circumstances can lead to subsequent changes in the child support payment amount. Both parents need to be prepared for these possible changes, because they can affect their overall financial situations. The best way to prepare for any changes is to talk about your financial situation with an experienced legal representative.
If you or someone you know is going through a divorce and is concerned about potential modifications to child support agreements, then you may need legal assistance to get all of your questions answered. The experienced divorce attorneys of Alexander & Associates may be able to help you with your concerns, and you can learn more about your options today by calling us at (972) 420-6560.