While parents almost always want to support their children after a divorce, the prospect of continuously handing over money each month in child support payments can be daunting. This is why many parents are attracted to the prospect of lump sum child support. Instead of continuing to make these payments, you can make a single lump sum payment and forget all about child support for the rest of your life. But is it really that simple? Is lump sum child support the best option compared to periodic child support?
In order to answer these questions, you should probably touch base with a family law attorney in Georgia. These legal professionals understand the various aspects of child support in Georgia, and they can guide you toward the best possible decision. Each case is different, which is why internet research can only get you so far. During a face-to-face consultation, you can receive personalized legal advice based on your unique situation.
Why Many Legal Professionals Doubt the Efficacy of Lump-Sum Child Support
The first thing you need to realize is that many attorneys attempt to dissuade parents from choosing a lump-sum child support payment. Firstly, they point out that circumstances can change over time. For example, your lump-sum child support payment may be calculated as $100,000 based on your current income. But if your income doubles within the space of a decade or so, your former spouse may file for a modification due to a “significant change in circumstances.” This may result in you having to pay an additional $100,000 in child support.
Family courts also doubt the efficacy of lump-sum payments out of concern for the children’s best interests. If spouses receive a considerable amount of money up-front, there is no guarantee that they will not simply spend that cash on frivolous items. Within a few short years, they may have no money leftover to support their own children. This is obviously something everyone wants to avoid – and one of the best ways to do this is to provide primary custodial guardians with an installment of money each month. Even if they manage to spend the entire installment on frivolous expenses, they can still provide for their children with the next month’s installment.
The Benefits of Lump-Sum Payments
In certain situations, lump-sum payments may be effective. Some parents just want a “clean break,” and they may not want to deal with the hassle of making continuous payments over time. If this is an important priority, lump-sum child support could be worth it. Courts may order lump-sum payments if they are unsure of a parent’s ability to pay over time. For example, a parent may be going to prison, and they may not have the ability to make continuous payments.
Enlist the Help of a Qualified Attorney Today
If you have been searching the Georgia area for an experienced family law attorney, look no further than Lankford & Moore Law. Over the years, we have helped numerous parents approach the issue of child support in the most efficient way possible. Book your consultation today, and we can assist you as you protect your family’s best interests and your own financial well-being.