Child Support Plan & Childrens Checkbook: Sample Language

This document is an addendum to the article If They Can Do Parenting Plans, They Can Do Child Support Plans by Stephen Erickson

Child Support Plan
& Children’s Checkbook: Sample Language

CHILD SUPPORT: Deviation from Child Support Guidelines/No
exchange of support:

A. Method
of Sharing Children’s Costs. Husband and Wife have agreed to an arrangement
for sharing the costs of raising their children that calls for itemizing all
expenses related to the children and

OPTION 1:
sharing these costs on a pro rata basis according to their gross incomes.

B.  Amount
of Support: Each will contribute and pay child support towards the below
listed expenses of the children by depositing funds into a children’s checking
account each month.  Husband earns ___% of the parents’ combined gross income
and therefore will deposit the sum of $_____ each month.  Wife earns ___% of
the parents’ combined gross income and therefore will deposit the sum of $_____
each month.

OPTION 2:
sharing these costs equally.

B.  Amount
of Support: Each will contribute and pay child support towards the below
listed expenses of the children by depositing each month into a children’s
checking account the sum of $_____.

The joint
checking account will be exchanged each time the children are exchanged (or
each will have a debit card for the account) and the parent who is caring for
them will have the use of the checkbook for the authorized shared expenses to
be paid from the checking account as outlined below:

Each parent
will pay separately for food, recreation, entertainment and travel expenses,
which will not be deemed to be shared as a part of the joint checkbook
arrangement.

From time to
time and at least once every 12 months, the parents will meet and review the
budgeted expenses for the children.  At such review, they may add new
categories of expenses and they may revise current expenditure levels. Upon a
substantial change in their incomes, they shall also change their pro-rata
contributions to the account.  Should the unused balance reach $2,000, or
should there be a shortfall in the checkbook for a period of two consecutive
months, both agree this will trigger an automatic review the expenditures for
the children.

OPTION 1: At
the yearly review, they will also exchange income verification upon a request
by either.

OPTION 2: In
February of each year, they will exchange W-2 income verification or tax
returns in order to adjust their pro-rata contribution towards the children’s
checking account. Should there be any dispute about what their current gross
income is, they will submit the dispute to __________________, C.P.A. (or some
other mutually agreed-upon C.P.A.).

Husband and
Wife agree neither will spend from the checkbook for items other than the above
categories authorized.  Should there be extraordinary expenses for the children
that are unusual or not anticipated and not part of their projected expense
costs, they agree to first meet and discuss whether or not to incur the expense
and if they agree, the item will be paid for them from the joint account.  They
agree that for the first year, Husband will receive the bank statements and
will balance the checkbook.

In the event
they change their equal time sharing schedule or in the event either one of
them believes the checkbook arrangement is no longer workable, either may
return to mediation or to court to request a different child support exchange
arrangement following the Minnesota Child Support Guidelines.

C. Duration
of support.  Husband and Wife will be responsible for the financial support
of their children until each child reaches the age of 18 years, enters the
Armed Forces of the United States, is emancipated, self-supporting, or
deceased, or until each child reaches the age of 20 years if the child is still
attending secondary school, or until further Order of the Court.  Appendix A,
describing the conditions for child support withholding, cost of living increases
in child support, and other matters, is attached hereto and incorporated herein
by reference; however, in any respects in which the terms of Appendix A may be
inconsistent with the terms of the agreement as reflected in Judgment, the
terms of the agreement and Judgment will prevail.

D.  Cost of
living increases.  There will be no cost of living increases in child
support as they will have a yearly review of expenses as part of the Children’s
Checkbook  agreement.

E.   Daycare
support.  Husband and Wife will be responsible for the daycare or latchkey
expenses of their minor children through the use of the checkbook.

F.  Uninsured
expenses.  Uninsured medical, dental, and optical expenses of the children
will be paid from the Children’s Checkbook  account.

G.   Extraordinary
expenses.  Before arranging for any elective uncovered health-related
procedures, both will agree on the procedure before assuming the other parent
will share in the costs of the procedure.

                       

Managing Editor

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