When parents, or parents and a non-parent carer, have reached an agreement on the amount of child support to be paid, they can enter into a Child Support Agreement, either limited or binding, which they can then apply to the Child Support Agency to have it accepted.
A Child Support Agreement can contain a number of provisions, including but not limited to:
- Periodic payments to a party;
- Varying the rate of an assessed child support amount;
- Non-periodic payments to a party/third-parties;
- Lump sum payments to a party; and
- Liability to pay child support to end from a specific day.
Here are some common examples of Child Support Agreement provisions:
- Where A pays to B a lump sum of $xxxxx that will be credited towards any child support payable until the child turns 18
- Where A pays $xxxx to B, CPI Indexed, in addition to/instead of the annual Child Support amount
- Where A will pay half of all school and medical fees for the child, in addition to the annual Child Support amount
- Where A will contribute $xxxxx to the child’s annual private school fees, in addition to/instead of the annual Child Support amount
We know that the costs to raise a child varies at different stages of your child’s life, and it might be a month or ten years since you have separated with the child’s other parent. As long as your child is still under 18, we can assist you in entering into a Child Support Agreement, and ensure that this agreement protect you and your child’s interests.
Please contact us for more information regarding legal issues in a relationship breakdown and a quote to prepare a Child Support Agreement, whether limited or binding.