Divorce is a fact of life for many California parents. Yet, regardless of the problems that they have with each other, they still have a responsibility to their children. These responsibilities are often outlined as a part of the divorce, child support and child custody agreements.
Child support payments and child custody arrangements are typically what comes to mind when discussing details regarding the children. In addition to these concerns, the parents will also want to plan ahead for their child’s future educational needs. College can be expensive, and how these expenses will be handled should be addressed sooner rather than later. These details can be included as a part of the California divorce process.
Financial aid can also play a factor in child custody arrangements. Federal financial aid is based upon the income of the parent with whom the child lives the majority of the time. For financial aid purposes, the actually number of days spent living in the household is used rather than who actually has legal custody of the child. Many times, this is a moot point; however, in some circumstances, it can affect the amount of aid that the child is eligible to receive.
Child custody involves more than just the home in which the child will reside. It also encompasses a number of financial concerns that need to be addressed upfront. Experienced legal counsel can assist in negotiating the college expense dilemma and also addressing how to handle any changes that may occur between the time the divorce is settled and when it is time for the child to graduate college.