Prepaying Child Support Seems Like a Good Idea
You have cash now and worry about whether you will have it in the future, so you think it might be a good idea to prepay your child support. That way, it is done and you will be off the hook for a bit. You would think this was a good idea. But there are reasons not to prepay child support. Here are some things for you to think about before you prepay child support. You can also bring your questions to a skilled family law attorney at Wirth Law Office – Wagoner.
DHS Will Assume It’s a Gift
If you pay any child support that is not already owed, meaning the current amount due or any back support due, the Department of Human Services (DHS) will assume that the amount you are paying is really a gift and not a prepayment on child support.
The amount will not be credited toward future child support. In essence, you will still owe the future child support that you thought you were paying. Though you can prove that the money was meant for child support, it puts the burden on you to prove that was the intent.
If Child Support is Modified, You Will Still Owe
If your ex wins a motion to modify child support, you will still be liable for at least the increased amount. You don’t want to be in a position to have to defend the prepayment to a judge.
In fact, prepaying a large amount of child support could be a catalyst for an ex to file a motion to modify. Your ex may think that you have more income and should be paying more in child support.
Your Ex May Not Use the Amount For Your Child
Once you give over a large amount to your ex, you run the risk that your ex will use it on something other than your child. Let’s say that you prepay $5,000 in child support.
Your ex may decide to take a trip with that money instead of pay expenses for your child. The money is more likely to help your child if you do not make a large prepayment to your ex.
If You Prepay, You Lose Control of the Money
You will effectively lose control of that money once it is turned over to your ex. Life is uncertain. You may need the money for another purpose in the future and you cannot get that money back. It is better to deposit the money into a separate account and earn some interest on it. That way, you are in control of the funds should a need arise.
Issues regarding child support can be complicated. While it may seem like a good idea to prepay your child support, it can open you up to further financial burden. If you have questions regarding child support, you should bring them to an experienced Wagoner child support attorney.
Initial Strategy Session with a Wagoner Child Support Attorney
Wirth Law Office – Wagoner offers its clients the best possible divorce, child custody, and child support representation in the Wagoner, Oklahoma area at reasonable rates. Get the help you need.
We invite you to schedule a initial consultation to discuss what we can do for you. Contact Wirth Law Office – Wagoner at (918) 485-0335 to schedule your low-cost strategy session. You can also fill out the form at the top of the page.
