Child support payments can be critical for single parents and their families in El Paso struggling to pay the bills. These payments may be a major contribution to the significant expenses that come with raising children, including education, healthcare and other expenses. While many people expect that support payments are large and generous, the reality is often quite different for many single parents. The U.S. Census Bureau tracks facts about child support in the United States, including the amounts owed and paid and the number of people in the country with child support orders.
If you are a parent seeking a divorce, or if you have children outside of a marriage and will not be staying with your partner, you are likely wondering how you and your co-parent will be sharing the responsibility of raising the children. Perhaps you are your partner are thinking about making your own arrangement for child custody. In other cases, you may not have this luxury, and thus will be in need of a greater level of outside help.
Parents in El Paso often worry about how best to fund their children's higher education. The cost of a university education in the United States is high and rises on a continuous basis. Statistics indicate that the average annual cost of attendance, including tuition, fees, room and board, at a four-year university is $46,950; the average annual cost for an in-state public university remains costly at $20,700. These figures are not stable, and the College Board estimates that expenses continue to rise on a 3 percent basis every year. The high cost of attendance underlines the importance of financial planning for educational expenses.
El Paso couples who are ending their marriages might want to consider a more collaborative approach to the process. Increasingly, couples are finding that working together may leave them more financially secure afterwards. With divorces often costing a lot of money, trying to minimize the expense may be worthwhile.
Affluent families in Texas often want to ensure that their fortunes stay within the family for generations. A prenuptial agreement represents a legal strategy that establishes the terms of a divorce prior to marriage. Wealthy parents often strongly encourage their children to execute these documents to limit settlements to potential ex-spouses.
If El Paso parents do not live together, the custodial parent is usually the parent that a child lives with at least half the time. There may be advantages and disadvantages to being the custodial parent.