Full Financial Disclosure
In case of separation of parents, there are a lot of areas about which parents have to give a detailed thought. The main thought which has to be given his about the financial support which must be provided to the child. There are various delays in decision making of finances as the disclosure of financial information has to be made according to mentioned process. There are various disputes that can arise due to deciding the finances and contribution of each parent for the life of the child. Proper handling of finances is to be done by communicating about all the information related to income and expenses of each parent in detail. As there are numbers that are to be handled, it is recommended that an expert third party must be hired. Income and expenses must be studied in detail so as to decide the contribution. Any disputes arising must be resolved quickly so that there is no delay in decision making and the child doesn’t suffer due to that delay. It is the duty of the parents to take interest in their child’s life so that he doesn’t miss them after separation. They must help each other to inculcate moral values into the child. The contribution of each parent is also decided by the time they invest in taking care of the child.
The process of financial disclosure is very time consuming and disclosing full information about income and expenses takes some effort of the mediator as well as the parents. Parents are reluctant about disclosing their income and expenses to a third person as this matter are very personal. The expert third party will always solve the disputes and try to ensure that there are no disputes on the first place.