List of co-parent expenses that are not covered by child support and should be shared
Kim Finkle, MBA, Financial Advisor
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Co-parenting involves shared responsibilities for the well-being of the child, and there are various expenses that may arise that are not covered by child support. While child support typically covers basic needs, additional expenses often require shared financial responsibility.
Here's a list of co-parent expenses that are commonly not covered by child support and may need to be shared:
- Extracurricular Activities: Costs associated with after-school activities, sports, music lessons, or other extracurricular programs.
- Educational Expenses: Expenses for school supplies, uniforms, tutoring, or educational materials that go beyond the basics covered by child support.
- Medical and Dental Co-payments: Any out-of-pocket expenses for medical or dental care that aren't covered by insurance.
- Childcare Costs: Additional expenses for childcare, especially during non-custodial parent's visitation time.
- Transportation Expenses: Costs related to transporting the child between households, such as gas, public transportation, or travel-related expenses.
- Specialized Health Care: Expenses for specialized health care needs, therapies, or treatments that may not be covered entirely by insurance.
- School Events and Trips: Costs associated with school field trips, events, or special outings.
- Clothing and Personal Items: Expenses for clothing, shoes, and personal items that go beyond the basic necessities.
- Technology and Electronics: Costs for devices, software, or other technology-related items needed for the child's education or personal use.
- Birthday and Holiday Expenses: Costs associated with birthday parties, gifts, and holiday celebrations.
- College Savings: Contributions to a college fund or savings account for the child's future education.
- Summer Camp or Vacation Expenses: Costs related to summer camps, vacations, or other recreational activities.
- Health Insurance Premiums: If health insurance is not covered entirely by one parent, the other parent may need to contribute to premium payments.
- Legal Fees: Costs associated with legal matters related to the child, such as custody modifications or disputes.
It's crucial for co-parents to communicate openly about these expenses, come to agreements on how to share the financial responsibility, and, if necessary, seek legal guidance to ensure a fair and consistent arrangement.
Warning:
This post is neither financial, health, legal, or personal advice nor a substitute for the advice offered by a professional. These are serious matters, and the help of a professional is recommended as it can impact your future.