So you have successfully exerted your grandparents rights……now what? The reality is that certain practical considerations come into play. You must know that there is the potential for financial problems to arise at any time. Depending on if you are still holding down a job or have already retired it can be a different situation for everyone. When you are raising your grandchildren, unexpected expenses may come up. Some of these expenses are beyond your control such as childcare and healthcare. This can make you an emotional wreck if you cannot afford the extra money going out. It is important to set a little money aside for these unexpected emergencies. Some people do well for themselves and can afford the extra money going out but with the economy the way it is today everyone is cutting back trying to make ends meet. Some grandparents may have to put their grandchildren in daycare if they still work outside the home. This can cost over one hundred dollars or more just for one child each week.
If the grandparents are retired then just a pension may not cover all the expense of raising your grandchildren. There are ways that grandparents can better afford to raise their grandchildren. Getting in contact with a lawyer that is familiar with these situations is the first place to start. They can help to give you advice on what you can do to financially provide better for your grandchildren. In some cases, the grandparents may be eligible for some kind of financial assistance to help with the extra expenses such as daycare, health care, food allowance and other financial obligations.
If the grandparent provides more than half of the support for the grandchildren, they may be able to claim them when filing taxes. Every little bit of help is worth it that you can get when you are trying to support your grandchildren on a tight budget. Most grandparents do not think they will be raising their grandchildren one day but things happen beyond our control that can change circumstances very quickly. Budgeting and cutting back on certain things may help you to financially get ahead. In the end, it is well worth the time to do whatever you can to make things better for you and your grandchildren.
One of the tenets of my Dale Carnegie training is that we should speak in…
