When you go through a divorce, you want to do everything you can to minimize the stress on your child. One major stress that divorcing couples go through is deciding on finances for the child. While discussing finances with your former spouse can be difficult, setting up a financial plan you both agree on can ease a large amount of stress in co-parenting.
Effective co-parenting is an important part of providing your child with a stable environment. Here are a few tips for handling co-parent finances in a divorce:
- Communicate – While you and your former spouse may not wish to speak with each other after the divorce, you will need to communicate about your child. Staying civil and setting aside emotions creates an environment where your child is the most important thing. This lets you and your spouse discuss financial needs for your child and makes sure you are both on the same page.
- Put it in an app – Multiple phone applications now exist to help divorced couples track expenses. This can help reduce conflict and arguments over who pays more.
- Make it legal – A divorce decree officially ends your marriage. But it also defines you and your former spouse’s responsibility after the divorce. By defining exactly what each of you are responsible for, the decree should help take off the stress of figuring out financial responsibility after the divorce. Make sure you have a qualified attorney help you with this part to ensure you cover every detail.
There can be many things in and after a divorce that cause you stress. Creating a good financial co-parenting plan can help lessen the stress felt by you and your child.