How Structured Settlement Can Force Parents into Paying Child Support
We discussed several months ago that structured settlement may be used for child support instead of resorting to monthly cheques which holds not guarantee for the recipient of the child support. The parent paying child support may be mandated by law to pay it but there are many cases when the parent still misses the payments to the parent who has custody of the child(ren) or custodial parent. Click here and here for those.
As we all know, the court holds that raising a kid is a joint responsibility of the two parents regardless of the status of their marriage. The amount of the child support is determined by many factors including the cost of the child’s needs and the financial capacity of the non-custodial parent. Once all those are determined by the court, the non-custodial parent is expected to pay on a regular basis. Because children below seven years old are automatically awarded to the mother, the father is the one who ends up paying the child support. This may change if the father can prove beyond reasonable doubt that the mother is incapable of taking care of the children. Such is the case of the famous actress/singer Britney Spears and ex-husband, Kevin Federline. After the much publicised break down of Ms. Spears, the court awarded custody to Mr. Federline and because Ms. Spears had more means to pay for the children, she is the one who ends up paying child support.
In other cases, many parents still refuses to pay child support for various reasons. The most common ones used are:
* inability to pay because of “emergencies” that the parent needed to spend for
* lack of accountability for the money
* unwillingness to have the child in the first place
* to protest visitation agreements
* a personal conviction that the amount of the award is unfair
The third, fourth and fifth points may only be resolved by filing an appeal to the court. Refusing to pay child support will only put the non-custodial parent in a bad light. The rest of the points may be resolved with a structured settlement.
There will be no excuse for the parent to not pay because in the beginning of the process, the parent will have to settle everything with the insurance company. In effect, he will pay for the child’s needs until the child reaches 18 or beyond in advance. The money will be locked and secured.
The money will also be computed to provide for the most important needs like food, heath and education. The custodial parent will not be able to spend the money elsewhere because it will be released specifically for those needs.
- Basic Principles of SSPA that Affect Child Support
- Safeguarding Structured Settlements For Children and Minors
- Child Celebrities and Structured Settlements
- Cash Advance for Child Safety Lawsuit
- Minors and Structured Settlement