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Financial issues for blended families

There are a great many blended families here in the United States. A 2015 Pew Research Center report estimated that around one-sixth of children reside with a stepparent, half-sibling or step-sibling.

When parents with children from a prior marriage decide to remarry and form a blended family, there can be complex issues to navigate. This includes complicated financial issues.

There can be a lot of financial adjustments that come with forming a blended family. This includes adjusting to what the new standard of living will be. It could also mean making adjustments regarding how the expenses related to the children each spouse has will be handled moving forward for things like child care, activity and education costs. How these costs are handled is not only impactful from a financial perspective, it can also have emotional implications. For one, children could read a lot into how the parents in a new blended family act when it comes to spending.

So, when a couple is forming a blended family, it can be important for them to have honest conversations with each other about their financial situation and how family financial matters (such as spending related to the children) will be handled moving forward. This could help such couples with planning for the future and keeping financial issues from causing trouble within their new blended family.

When a parent is remarrying, what sort of planning he or she does with their new spouse is not the only thing that can have major impacts on the children and the family's financial future. For one, arguments between a parent and his or her former spouse when it comes to expenses related to their children can be very impactful.

It is not uncommon for a parent who is remarrying to have some sort of child support arrangement with his or her ex-spouse. Sometimes, after a blended family is formed, disputes arise between a parent and their ex-spouse over child support payments and the expenses they are being used for. Such arguments sometimes grow into full-blown legal disputes. Given the major financial impacts child support disputes can have, when a parent in a blended family ends up in such a dispute with their ex-spouse, he or she may find it very beneficial to reach out for quality legal guidance on the matter.

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