Sharing the cost of Children.
Do you and your ex-partner want to share the costs of education and health expenses for your children?
Usually, the Department of Human Services calculates child support based on both parents’ incomes, the child’s age and how much time the child spends with each parent. Based on the Department’s child support assessment, child support will be payable on a weekly basis.
If you and your ex-partner reach an agreement about sharing your children’s expenses such as school fees, extra-curricular activities, health insurance and medical expenses, we can assist you to draw up a legally binding agreement.
There are 2 options, a limited child support agreement and a binding child support agreement.
A limited child support agreement requires the payment of child support that is equal to or more than the child support assessment calculated by the Department of Human Services. The agreement can also include payments about non-cash items like education and health expenses.
A binding child support agreement does not require a child support assessment by the Department of Human Services. The cash payment can be decided between you and your ex-partner. This agreement can also include payments about non-cash items like education and health expenses.
Both parties must obtain independent legal advice regarding the effect, advantages and disadvantages before signing a binding child support agreement.
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