What extra things should I include in my divorce settlement?

There are some general things that you will know right away should be in your divorce settlement, including child support, property division and child custody. However, it is a good idea to be as thorough with your agreement as possible. 

Rate.com explains that there are many issues that may come up after your divorce is final that would require heading back to court. To save money, it is best to think ahead and ensure you cover these issues in the settlement. 

Other caregivers

Do you have a plan about who will watch the kids or take care of them if the parent cannot during their parenting time? This issue can often lead to disagreements, which is not good for the children. You might want to include something about this in your parenting plan. Note who can take over care if a parent cannot when he or she had the children. 

Taxes

One thing many people fail to account for when reaching a settlement on property division is the tax implications. You should understand them and factor them in when creating your agreement. 

College

Perhaps the biggest issue in divorced families is paying for college expenses. Traditional child support ends when a child reaches the age of 18. There is no legal obligation for a parent to pay for college expenses for an adult child. To avoid issues, you should highly consider adding in something to your settlement about the breakdown of payment for college-related expenses. 

Extra expenses

Child support also does not cover extra expenses, such as summer camps or special interests. These things can get costly. It may be worth including an agreement about extra expenses in your divorce settlement.