Child Support and Custody: Financial Planning Checklist

Child support and custody arrangements have major long-term financial implications. This checklist helps you understand and plan for the full cost picture.

20 items across 4 categories

Child Support Calculation Inputs

Each parent's gross monthly income
Percentage of overnight custody time (parenting time)
Number of children and their ages
Health insurance premium for children
Work-related childcare costs
State-specific guideline formula

Child-Related Expenses to Address

Health insurance: who provides it and at what cost?
Out-of-pocket medical expenses: how are extraordinary costs split?
Childcare and after-school programs
Educational expenses: private school, tutoring, college savings
Extracurricular activities: who pays?
Transportation between homes

Custody Arrangement Financial Impact

50/50 custody often reduces child support significantly
Primary custody reduces your net income but increases your support received
Tax exemption for dependents: negotiate who claims each child
Child Tax Credit eligibility - tied to who claims the dependent

Long-Term Planning

College savings: 529 plan contributions post-divorce
Life insurance: ensure child support is protected if paying parent dies
Estate planning: update beneficiaries and guardianship designations
Disability insurance: protect child support income stream

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SettleLens provides financial scenario modeling for informational purposes only. Not legal advice. Always consult a qualified family law attorney before making settlement decisions.