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Divorce: Managing the financial responsibilities of co-parenting

| Jul 26, 2019 | divorce/marital dissolution

Disagreement over finances is one of the most common sources of conflict between couples in California and across the nation. Following a divorce, many individuals may wish to take immediate action to untangle their finances from their former spouse and open a new chapter in life. However, when children are involved, parents may find it essential to find ways to limit the level of conflict involved with managing the financial responsibilities of shared parenting.

Experts indicate that one vital factor for parents to address pertains to finding a way to communicate. Establishing a consistent means of communication could prove vital to reducing the amount of stress involved with speaking to the other party about financial responsibilities and decisions. During such a discussion, experts suggest that addressing topics such as possible future changes to budgets and expenses could also be advisable.

Should any disagreements arise, experts indicate that a person could benefit from looking to the divorce decree. As this decree will likely include clear terms on each person’s monetary responsibilities, ensuring every crucial topic is covered within this document could prove imperative. Experts also indicate that in some cases, parents may benefit from taking advantage of the organizational options afforded by certain digital applications.

While both parents may wish to provide their children with the necessary financial support following a divorce, when it comes to making decisions, they might not always be on the same page. When facing a similar life change, parents in California could find it helpful to retain the services of a family law attorney for guidance in covering every aspect of the process. An attorney can address a client’s concerns and assist in pursuing a parenting plan with the need of his or her children at heart.