Financial and Consent Order

My wife and I have informally agreed terms for our divorce.

We initially agreed that I would pay a lump sum to her from the settlement to cover future child maintenance costs.

However, I have been told that this would not be ratified by a court and that after one year my wife would be able to go to the CMS and have another claim evaluated. My concern is that she may spend the lump sum long before the kids reach 18 years old and I may be liable to pay more money.

She, however, has an unwarranted concern that I may drop out and go travelling thereby leaving her with no child maintenance should I not pay the money up front.

We would like to come up with a solution that would suit both parties (we talk regularly and are on good terms). I have suggested that the lump sum is held in a trust fund by an impartial third party and the maintenance is paid to her monthly until the children reach 18. Would this be ratifiable?

If not, are there any other similar options?

Thanks in advance.

Do not even think of paying child maintenance as a lump sum. Your wife can have whatever 'fears' she wants but the fact is that you should only ever pay child maintenance out of income and there is a formula for the amount payable depending on your income. If you were to pay a lump sum for child maintenance (which a court would almost certainly refuse to approve) but your (ex) wife could still go to the CMS so you would end up paying twice. The CMS wouldn't care whether you had paid a lump sum or not.

If you stop to think about it child maintenance is to maintain children on a day to day basis which is why it is a call on income rather than on capital. Regardless of your wife's 'fears' you should dump this idea and insist that child maintenance be paid in the normal way from income.