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child maintenance - paying lump sum in advance
Comments
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My advice would be not to pay in advance. If anything happens and your ex makes a claim to CMS, they are only interested in any payments made between the parents after any application. So in effect you pay 5 years in advance, they make a claim after 6 months and you then have a liability for ongoing payments.
https://www.gov.uk/government/publications/child-maintenance-decision-makers-guide chapters 50 and 60 both outline only payments made after a child maintenance application are considered by CMS
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Do not pay in advance like this. You may not think it will become an issue, but you don't know what will happen down the line. Paying CM for 5 years in a lump sum, isn't necessarily what's best for the child. Once that pot runs out, there would be nothing to stop them from opening a case for more support.
If you already have a CMS case, any payment you make now on top of your current payments is your choice to do so. If you don't have a case, any payment you make prior to a case opening won't be considered. So there is the potential for you to have to pay 'twice'
My advice. Don't do it!Total savings 2018- £7450 (includes Lisa bonus)
2019:
Regular Saver: £0.00
LISA: £0.000 -
Based on experience of colleagues over the years,
Your ex might want a lot of cash now so that:
They can hire lawyers to get a better divorce and get the whole house or something
They can leave the country and start again somewhere far far away like Australia
I wouldn't do it0
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