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“[They] got one of your kids, got you for 18 years: Utilising Child Support Agreements so that everybody wins”

“[They] got one of your kids, got you for 18 years:  Utilising Child Support Agreements so that everybody wins”

“His baby-momma’s car and crib is bigger than his”if ever a song generated ample work for family lawyers, it is Kanye West’s 2005 classic “Golddigger”. Sure, there’s an element of misinformation included in the lyrics, and it has lead to many of the population thinking that holler[ing] “we want pre-nup” is a sufficient asset-protection measure, but it was on the right track.

Other than increasing public awareness about Financial Agreements, it also dealt with child support. While the Child Support Agency has mechanisms by which you may object to an administrative assessment, what many people may not realise is that parents can reach their own agreement in relation to child support and, more importantly, document it so that it’s enforceable.   Child Support Agreements now form a valuable part of property settlement negotiations and may reduce acrimony because both parents are involved in the negotiation process. Parents may also want to “lock in” certain payments to third parties, such as health insurance or school fees (and additional educational costs). In these situations, a Child Support Agreement may be the way to go.

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