If parents separate, then the “parent with care” is entitled to child support from the “non-resident parent”. The Child Support Agency helps ensure that non resident parents contribute financially to their children’s upkeep. There is a formula for calculating child maintenance (see the CSA website online calculator)
Usually, the parent with care is only entitled to child support as calculated under the CSA formula. There are some exceptions to this, for instance regarding extra money to cover private school fees. Of course, if you agree on payments higher than the CSA formula, that would be up to you and your ex partner.
You may also be able to use Schedule 1 of the Children Act 1989 way of dealing with financial support. You do not need to have been married for the Schedule 1 to apply. The schedule also provides for capital payments (i.e. lump sums) for children, as well as the provision of a home for them to live in until they are 18.
Always remember to ensure you have a valid will, and keep it under regular review, if you want to make sure that you have made provision for your children in the event of your death. As well as providing for them financially, you can appoint a testamentary guardian for your child if you die while they are still under 18.
If you want to discuss any of these issues please contact Nicola Harmon.
