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Single Parents: Do You Have the Life Insurance You Need?

Single Parents: Do You Have the Life Insurance You Need?

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The Importance of Planning Ahead

As a single parent, you’re probably used to getting things done by yourself and provide for your family as best as you can. But what if something were to happen to you?  Who will provide for your kids?  In addition to having a Will, you should really have life insurance to be sure that your children will be financially provided for in your absence.

Life insurance is especially important for single parents, particularly if there is no back-up breadwinner for your children to rely on. The good news is you can usually get affordable life insurance through your employer if you have a full-time job.  If you don’t have that option you will need to do some research and find an insurance provider that works for you.  Take the time to scout out life insurance quotes on term life insurance, whole life insurance or a mix of both, if you haven’t already.

How Much Life Insurance should a Single Parent Have?

The amount of insurance you should buy is generally equal six to eight times your annual salary. There are a few factors that would determine how much you would have to pay for life insurance.  Some factors are your age, and whether you have any pre-existing conditions.  You also want to decide whether you want term life insurance or whole life insurance.   And you definitely want to shop around for the best prices.  Find a policy that works within your budget.  You should be able to find a policy whose monthly payments are manageable.

Are there Other Sources of Income I Could Pass to my Children?

As you consider purchasing single parent single parent life insurance to protect your children’s future, look into other potential sources of income that can be passed on to your children. This could include retirement plans, other savings and Social Security.  Doing these things could provide you with peace of mind should something unfortunate happen.

If you pass away before your kids are 19, they may be eligible to receive your Social Security benefit. Disabled children and elderly parents who depend on you for at least half their income may also receive “survivor benefits.” Questions on how much you can expect to receive on your Social Security benefit can be answered by visiting the Social Security Administration’s website.

Make a Plan for Your Children’s Future

Financial planning can be a difficult exercise for most people to wrap their minds around, but for the single parent it’s important to consider. It might be a good idea to visit with a financial planner if you aren’t confident about what type of savings plan you should have in place for your children. But as you have been able to provide for your children on your own in the past, protecting their future is just one more thing you can do as a strong single parent.

Fighting for Child Support When Parents Are Unmarried

Fighting for Child Support When Parents Are Unmarried

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Disclaimer: Laws may vary from state to state. I advise you to do your own research.

Before You Can Request Child Support

Before we talk about support for the child born to unmarried couples, let’s look at child custody first.

Child custody cases for unmarried parents are quite different from those that involve divorced parents. Divorced fathers generally tend to find themselves in family court fighting for their right to retain contact or periodically visit their children after the separation. While divorced mothers generally are in the courtroom to fight for child support from the fathers. This dynamic is changing as more and more fathers get primary custody, and more mothers become the parent who earns the higher income.

For single parents who’ve never been married however, paternty must be established before the single father can fight for the right to have any type of visitation or joint custoday. And paternity must be established before the single mother can take up the issue of child support the court.

After Paternity is Established

A number of important issues arise for both the single mother and single father when child custody is taken up in court. When the parents of a child are not married to each other, sole physical custody of the children is often awarded to the mother. Unless a father establishes paternity though court approved procedures and takes a strong action to be awarded custody of his children, he is usually left with very little chances of gaining access to them.

If the single mother denies the single father access to the children, he has to seek action in a family court to establish paternity and wait for the judge’s final decision. Full custody of the children are usually only be granted to unwed fathers if the mother is found unfit to raise them. For younger children, the chances of an unwed father being awarded custody have always remained slim, and a lot of time and money is involved in these procedures.

Asking a Court to Grant Financial Support

When it comes to financial support for the child from an unwed couple, there is an increasing number of single mothers going to court to obtain some form of support from the single father. In these cases, the mothers have to first establish paternity so she can request financial support for the children under her custody. Without seeking the help of the court, it is often impossible for mothers to get the fathers to pay for their fair share in raising the children. When support is delivered voluntarily, single mothers face the threat of losing this anytime a single father decides to stop these contributions. But with a court decision after paternity is established, garnishments against the salaries or any form of income the father makes can be arranged, and the children are assured of continuing financial support until they are of age.

If you find yourself in this situation the best thing to do is stay focused on what is best for the child. Making sure that everyone’s legal rights are protected before problems arise is the smart thing to do.

Financial Planning for the Single Parent

Financial Planning for the Single Parent

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As a single parent it’s even more important than ever to have a short term and long term financial plan.  At About.com they have an article that covers some of the financial planning that you need to think about for you and your child.  The article covers:

  • Creating a Budget
  • Getting Child Support
  • Finding Additional Help
  • Setting up an Emergency Fund
  • Life Insurance
  • Education Funding

While the article doesn’t go into a great amount of detail, if you are just starting to think about financial planning it’s a good place to start.  Many single parents don’t even think about financial planning until they are hit with a crisis; and that’s the worst time to start.

You can read the entire article by clicking on Finances for a Single Parent

Georgia Child Support Information

Georgia Child Support Information

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How do I get child support services for my child in Georgia?

Here’s the basics of what you need to do to start receiving Child Support in Georgia:

  • Open a Child Support Case
    Call the Georgia Child Support Agency (1-877-423-4746) and make an appointment to open a case. You will also need to fill out at application. You can do that online, or request an application be mailed to you when you call for your appointment.  They do charge you a small fee for applying to open a case. *If you are on some types of government assistance, you may not need to fill out an application to open a case. Ask about this when you make your appointment.
  • Locate the Non-Custodial Parent
    If you know where the non-custodial parent lives and/or works this step is simple.  However, if you don’t know where the non-custodial parent is; or if he lives in a different state, it could be difficult to locate them.  Information such as date of birth, social security number will make it easier to locate a non-custodial parent.  Unfortunately there are no guarantees, and you can’t collect child support from an ‘un-findable’ parent.
  • Establish Paternity
    If you and the non-custodial parent were not married when you had your child, you will need to establish that he is the legal father of the child.  If the non-custodial parent is uncooperative, you can petition the court to have his DNA tested to determine paternity.
  • File a Support Order
    In Georgia the child support guidelines take into consideration the income of both parents and the number of children.  They also take into consideration which parent provides health insurance for the child.  The court sometimes orders the non-custodial parent to pay for health insurance for the child if they can get it at a reasonable cost.
  • Set up Payment
    Once the child support order is in place, the amount will be deducted from the non-custodial parent’s paycheck.  This is the easiest way for the non-custodial parent to pay child support.  It’s automatic and there is a record of the payments.  It is almost always a bad idea to make (or receive) child support payments directly between the parents.

What can I do if the non-custodial parent stops paying support or providing health insurance for our child?

If you have an Oder in place and the non-custodial parent does not obey the Order, Georgia Child Support Enforcement can assist you in getting your support through the courts. There are things that the court can do to get the non-custodial parent into compliance including fines and/or jail time for non-compliance.  The Judge can enforce the order through a number of ways.  To find out what other steps the courts can take visit Georgia’s Child Support agency directly.

Once the Child Support Order is in place, can it be changed?

After a Child Support Order has been set up, either parent can ask the Georgia Child Support Agency to review the Order every three years.  You can ask them to review it sooner if there have been major changes in income or family situation.

Links Regarding Georgia Child Support