More Tips for Tidy Child Support Accounting
Recently I learned that it’s standard operating procedure for banks to retain customer account records for only seven years. Some clients have child support obligations that run up to 18 years, so the moral of this story is not to rely on the bank for proof that you paid child support. Be a geek and wear both a belt and suspenders!
It’s rare to get a bank statement with your actual canceled checks anymore, but most banks at least provide scanned images. Hold onto these records in your safe deposit box or place where you keep important documents until after your final child support payment is made and an account audit shows a zero balance.
Just this month a client who religiously paid child support (directly to his ex-wife rather than the registry), was served with an enforcement action after his child graduated high school. After pouring through years of canceled checks and statements, we ended up proving the majority of the payments were made. But, it put the client in a bad position to scramble for old documents on short notice.
The other moral to the story is not to make child support payments directly to the custodial parent.
