There are many different angles that our law firm considers with regard to child support, such as the impact that losing a job can have on custodial and non-custodial parents or the penalties for failing to pay child support. However, there are unique considerations that can also play a major role in child support orders, such as retirement. If you plan on retiring in the near future, or your child’s other parent has recently retired, you may want to think about the potential impact this could have on your child support order. We know that some people struggle with child support issues and just how important it is to work through them carefully.
If you plan on retiring in the weeks or months to come and are obligated to pay child support, you might want to think about your financial well-being and how retirement could affect your child support payments. Depending on your situation, you could be able to have your order modified, resulting in lower payments that are more compatible with changes to your income. Regardless, it is essential to make sure that you do not fall behind on the payments you owe, since this can have serious consequences (time behind bars, passport problems, garnishment of your wages, tax refund interception, and more).
Retiring can be stressful and may lead to major changes in your life. However, you should not ignore the potential ways that retiring could affect your child support responsibilities. If you make your way to our fathers’ rights section, you can read more on this area of family law.