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The financial aspects of sharing joint custody after divorce

A divorce will inevitably bring significant financial changes to the lives of both spouses. Even with a comprehensive property division order and financial settlement, one parent may be surprised by the expenses often associated with sharing joint custody. This is a parenting arrangement preferred by those who want kids to maintain strong relationships with both parents, but it can also be a financially complex arrangement.

At the time of a divorce, it is difficult to see what the kids’ future financial needs may look like. During a divorce, a California parent will find it beneficial to do research and prepare well in order to advocate for what is necessary to properly care for the children. A hasty agreement can lead to one parent spending significantly more than he or she can afford. It is helpful for parents to negotiate an agreement that splits costs as fairly as possible.

However, there are often additional expenses associated with raising kids. There are certain apps that can allow parents to track their expenses. This provides documentation and helps determine which parent is responsible for the next need. Parents may want to talk about processes they need in place that will allow them to handle unexpected costs without disputes and additional stress on the children.

The financial aspects of sharing joint custody can be complicated. California parents going through a divorce may want to negotiate an agreement that allows them to provide for the kids fairly and without placing an unnecessary financial burden on one parent. With a solid custody order and financial plan in place, parents can provide their kids with a stable post-divorce future.