It is not unusual for there to be a dispute over a variety of issues when there is a divorce in California. The impact of a divorce can be extensive and require people to take certain steps to handle situations such as child support. The state will want to make certain that there is a reasonable amount of certainty that the child support will be paid in full and on time. One way they will do this is to order a supporting parent – the obligor – to deposit money as a security deposit or into an account specifically for child support. Understanding the law as to when this will be done and the amounts required is an important part of a case and both parties should understand it.
When there is an order to pay child support, the supporting parent might be required to pay as much as one year’s child support immediately. This is called the “child support security deposit.” It can also be less depending on when the order of support will terminate. The court can also require that there be a trust account unless this is waived by the receiving parent. The court can decide not to do this once it finds that there is a child support trust account that is sufficiently funded or sufficient security has been paid.
With a child support security deposit, the court will order that the account be interest-bearing and in a secured financial institution with the adequate legal protections. It can be withdrawn only when the court has authorized it. This money is so the monthly child support will be guaranteed. There must be evidence that the deposit was made in a way that the court orders. It must be filed within 30 days. Once the child support payments stop, any money remaining in the account will be returned to the supporting parent along with the interest. If there is no money left, the account will be dissolved.
Parents who have ended a relationship and are seeking to make certain their children are properly cared for will want to pay their child support. However, it is not unusual for problems to crop up in these payments. If the court sees fit, it can order that various steps be taken to make sure the payments are made through a security deposit or a specific account. For the custodial and noncustodial parents, this is a vital area of the law to understand. A law firm experienced with this and other aspects of child support, divorce and family law can be helpful in these situations.