Childcare Costs After Divorce
Planning childcare costs after divorce can seem overwhelming if you don’t know what to expect. There are a few large costs that you want to plan for, including college. Here is what you need to know.
Childcare Costs After Divorce | Planning for College Costs
College costs can be hard to address in a divorce settlement, because so many factors come into play. College costs range widely depending on whether or not a young person attends a private or public, in-state or out-of-state school. The total cost will range from tens to hundreds of thousands of dollars. One parent might expect to pay all or part of a child’s college expenses, while the other might expect the child to pay his or her own way through a degree.
In New Jersey, divorced parents are expected to contribute to a child’s college expenses, so long as the child has exhausted money from scholarships, financial aid, and loans. If your child isn’t near college-age, you’ll still want to put a placeholder in your settlement stating your intent. If you wish your child to go to a state school, to attend your own alma mater, or to choose his or her own dream school, and in any case expect your spouse to contribute to the cost, that might not be enforceable, but you should still put your wishes into the official statement.
Childcare Costs After Divorce | Cars, Driving Lessons, and Insurance
Especially with young children, parents going through a divorce can forget about seemingly far-off expenses, like cars, driving lessons, and insurance. A New Jersey divorce attorney can help you plot out and think through these things in advance.
When a child gets a learner’s permit, the car insurance for the household in which the child primarily resides will go up significantly. Driving school will be an additional expense. Some parents also anticipate buying a child’s first car. You and your spouse need to come to an agreement about these costs in advance, to avoid relitigating.
Childcare Costs After Divorce | Paying for Extracurricular Activities
Extracurricular activities do not factor into the New Jersey child support guidelines. Whether your child takes piano lessons or plays an expensive and time-consuming sport like hockey, it’s important to discuss these costs with your spouse. You have to think about the expenses – and how these expenses might grow as your children move on to new or more involved activities – but this isn’t your only concern. What about lessons, practices, and big matches? Who’s going to transport the child? Will you both attend? Can you emotionally handle attending together? Don’t just think about these things – talk about these things, with your spouse and your attorney, and put them into the final settlement agreement.
If you need legal advice about planning childcare costs after divorce, please call our New Jersey family law attorney today for a free consultation.