How much does it cost the average parent to rear three children from birth to age 18? Some sources say $1 million. However, Anne Dias Griffin, who had three children with hedge fund billionaire Kenneth Griffin, thinks the number lands closer to $1 million per month.
Mrs. Griffin made headlines when she claimed that in order to keep up with the expenses of her three children, Mr. Griffin should be forced to pay a monthly six-figure sum in child support.
The Griffin case raises the question – how much does it actually cost to raise a child? Based upon some individual’s incomes, the child support far exceeds the average monthly expenses for a child; however, on other incomes, the support does not even scratch the surface.
The Griffin case also raises the issue of unpaid child support. Although six-figure child support sums are fairly rare, the issue of unpaid child support is not. Over $14 billion of child support funds went unpaid in America in 2011. Moreover, in 2011, 32 percent of custodial fathers and 25.1 percent of custodial mothers, did not receive the child support that they were entitled to.
If you are not receiving the child support that you are entitled to, or you have a child support arrearage that you need to address, contact the attorneys at Serafini, Michalowski, Derkacz & Associates.