A Binding
Child Support Agreement allows you to make a financial agreement regarding
child support payments and how they are paid.
Each party
wishing to enter into a binding child support agreement must obtain independent
legal advice before making or entering into the agreement.
You can also
make a binding child support agreement that credits privately made lump sum
payments or the value of a transfer of property against the liability that is
payable under a child support assessment.
You can specify the rate at which the lump sum is to be credited at 100%
or less.
If you include
these provisions in the this type of agreement, you must have a child support assessment
in place before the agreement can be accepted and the lump sum payment or value
of the asset must be equal to or greater than the annual child support rate
under the current child support assessment.
This is a
complex area and we recommend you obtain legal advice from our Family Law Team
by telephoning 03 9614 7111.
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