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Parenting Plan

Learn how to create an effective parenting plan that prioritizes your children's well-being while addressing custody, visitation, decision-making, and financial responsibilities during divorce.

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Introduction

A Parenting Plan is a legally binding document that outlines how parents will raise their children after separation or divorce. It serves as a roadmap for co-parenting, detailing custody arrangements, visitation schedules, decision-making responsibilities, and financial obligations. For parents with minor children going through divorce—especially those with significant assets or business interests—a well-crafted parenting plan is essential to minimize conflict, provide stability for your children, and protect your parental rights. This document helps establish clear expectations and boundaries, allowing both parents to remain actively involved in their children's lives while reducing the potential for future disputes.

Key Things to Know

  1. 1

    A parenting plan is legally binding once approved by the court and violations can result in legal consequences, including potential modifications to custody arrangements.

  2. 2

    While templates are available, parenting plans should be customized to your family's unique circumstances, especially when significant assets or business interests are involved.

  3. 3

    Consider including provisions for how major expenses beyond basic child support will be handled, such as private school tuition, college costs, extracurricular activities, and medical expenses not covered by insurance.

  4. 4

    The parenting plan should include clear provisions for conflict resolution, such as requiring mediation before returning to court, to avoid costly and emotionally draining litigation.

  5. 5

    Children's needs change as they grow, so build flexibility into your plan while maintaining structure and predictability in their routines.

  6. 6

    For business owners, include provisions addressing how business valuation, income fluctuations, and liquidity issues will impact financial support obligations.

  7. 7

    Consider the tax implications of your custody arrangement, including who claims dependency exemptions and child tax credits, especially important for high-income families.

  8. 8

    Document how property specifically designated for your children (college funds, trusts, inheritances) will be managed and protected regardless of the custody arrangement.

Key Decisions

Parents with Minor Children

Long-Term Marriage Partners with Significant Assets

Business Owners

Long-term Married Couples with Significant Assets

Parenting Plan Requirements

  • Parties' Information

    Full legal names, addresses, phone numbers, and email addresses of both parents.

  • Children's Information

    Full legal names, dates of birth, and current addresses of all minor children covered by the plan.

  • Case Information

    Court case number, county, and state where the case is filed.

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Frequently Asked Questions