If you have a high net worth, it is particularly important to focus on the financial facets of ending your marriage. Property division and spousal support can have a significant impact on those getting a high asset divorce, especially with so much at stake. If you have kids, you likely have additional financial matters to look into. For example, many non-custodial parents have to pay child support, and it is extremely important to stay current and understand all of your options.
With a high net worth, you could have significant child support obligations. In addition, you could have to review your options with respect to paying support if you do not have a typical job which results in the automatic withholding of child support payments from your paycheck.
Reviewing child support payment methods
If you are a business owner or you cannot pay child support through income withholding, you need to look into other ways you can stay caught up. According to the Georgia Family Support Registry, parents can also pay child support using a credit card, bank account or by mailing a payment. Additionally, you can also use certain e-wallet accounts to make child support payments.
It is important to note that certain payment methods result in service fees that do not apply to child support obligations.
Preparing for child support obligations
During divorce, you should review strategies to secure the most favorable outcome with respect to your child support obligations. If your financial circumstances change, you should take a look at child support modification. Make sure you plan ahead and do everything you can to stay current on child support in order to avoid serious penalties.