should I accept child support in one lump sum?

If you've been having trouble collecting, and the amount offered is most of what he should be paying over the next 3 years, then I say you should snap this up. Its a no brainer.

Legally there is a SERIOUS point that has not been addressed yet. Most states WILL NOT allow you to accept a lump sum payment!! If a Judge signs an order for child support then unless that is changed and filed with your divorce papers it is not legal. I don't know of any Judge that has or would sign such a document. No one can predict future circumstances, there are many reasons to not do this, i.e. if you pass away, (God forbid) your child passes away, your ex, his incomes changes, loss of job, etc. All these circumstances factor in the child support.

You NEED to consult an attorney before this comes back to haunt you both.

Sorry to be a downer I know the money would help now but I'm just trying help keep you out of future troubles.

WHile I never advise accepting such an agreement, there are times when it could work. If you do contemplate this, have an attorney review the contract that the two of you agree to.

Two points:

1. Part of the agreement MUST include your continued right to continued extras as outlined in the support / parenting plan. Agreements such as this do not always consider the medical, the dentist, shoes, and any extras he is obligated to help pay for, including insurance.

2. In the event his income rises at any time during the period of the agreement and until such time as child support naturally ceases, you retain the right to amend the agreement by 1/2 of the increased income (or a figured as negotiated).

Also, to accept such an agreement, I would require him to make the offer on what the child support calculator says he should be paying multiplied by the remaining months he is obligated.

And finally, if you do consider this, part of the agreement should contain a clause requiring you to place the monies in an interest bearing account for the benefit of the child with monthly withdrawals at the same amount as you would have realized had he continued paying support.

If the $30,000.00 includes all the past due that wasn't paid originally it sounds like it could be a good deal.

My suggestion is to get it in writing first, then take that document to an attorney, explain the situation and see what they suggest. It could be that if he can afford to pay that he can afford to pay more. They can also advise if a lump sum is smart tax wise. This could be a way to get you into a bad situation if accepted.

Sorry to all the guys out there, but I'm an honest answer person.

He may be getting a raise in the future or something. But you have to do what's best for your children. If he wants to pay it in a lump sum, then it will be YOUR responsibility to manage that money. That's averages out to a little over $800 a month.

But, he probably can't do that unless you go back to court. Because if it's not recorded that the money is paid...then he'll still be responsible to pay money for 3yrs....even though he gave it to you. To cover both of you, you should have him pay that money to the court or through the child support agency. That way, he doesn't get the shaft...and you don't get short-changed. Your child support case worker should be able to give you a little more information. Hope that helps.....

You'll have to do the math. A simple way to do that is (if you have excel on your pc) is to run a annuity and net present value (NPV) to figure out what the monthly pay-outs over 3 years is worth today. That'll tell you whether you should accept the lump sum or go for the monthly thing.

A couple of things to remember: if you are good at managing your money and are sure you won't blow it up on frivilous things, you can do better by taking that lumpsum and reinvesting it well.

One other factor is the pain of having to go through month after month collecting that money from your ex. What happens if he defaults? What happens if he loses his job and can't pay you the full payments each month?

Hope this helps.

I would check with a lawyer to make sure that it's all clear. He could be expecting some really big promotion that will increase his pay significantly and doesn't want you to know about it. Or he could just want to get it out of the way. Unless you need the money right away, I would stick with getting it paid out over three years just to be safe. I don't know if you pay taxes on child support, but if you do then it may cost less in taxes too.

I would agree with others and check with an attorney. If you take the three years left in one lump sum and then he gets a big pay raise, you lose out on that adjustment. The support is suppose to be for your children, and not for his convenience.

I would definitely ask any attorney what is allowable, what they think is best for your situation, and what the ramifications would be if you decided to accept this lump sum.

This "answer" is for the stupid whore above that is a perfect example of why there is so much hatred in this country. I am the best friend of the person that asked this question....and you have proven yourself.....can we say tacky and absolutly no class. It must really suck being so miserable that you have to take it out on innocent people. My friend is not a money hungry ex. You would be quite ashamed of yourseld if you knew what all she has been through...and what a giving, unselfish person she is.....but then again....people of your kind have no shame or gratitiude!! Didn't your mother teach you if you don't have anything nice to say...then don't say it at all!! Probably not....she's probably of your same class. You have a wonderful evening sweetie....and one piece of info for you.......KARMA IS A *****!!!!!!!!!!!!!! Oh, and who needs to get a life.....seems you have nothing else to do but browse thru here being a deadbeat. Ask a good question......give good advice.....or GO AWAY.....FAR FAR AWAY!!!!!!!

This money for the child so if he were to give you 30,000.00 now then take and save it for your childs education. Yes he can be trying to get out of paying more out of pocket but you have to have some rules too. Like he will still be responsible for medical insurance and if your child needs incidentals when he is the care of his father then he does need to provide. Get some legal advice before signing the old dotted line attorneys can make something like this work with stipulations. Good luck to you.

You need to talk to your lawyer and have his income reviewed. How long since his income changed? This doesn't seem financially sound on his part because he will have to now pay interest on child support...not the brightest move but oh well. If he truly owes you 30k, it might be a good idea to take it and invest it well and have money for your child's education. What happens if he as some kind of income windfall in the 3 year period?? Talk to your lawyer. Good luck :)