Module Notes
Navigating child support during divorce can be complex, but having a clear understanding of its various elements is crucial for ensuring the financial well-being of your children.
Child support is financial assistance provided by one parent to the other for the benefit of their children following divorce or separation
- Purpose is to meet children’s basic needs, including food, shelter, clothing, education, healthcare, and other essential expenses
- Intended to help with the inherent expenses you have in your household based on the time you have your children
- Typically includes some of the other necessary expenses for children like childcare and medical, dental and vision insurance premiums
- Vary by jurisdiction but generally consider factors such as each parent's income, the number of children, custody/parenting arrangements, and the children's needs
- Many jurisdictions have guidelines, equations or calculators to determine a child support number
Primary Factors in Calculating Basic Child Support
- Income of both parents
- Number of children requiring support
- Parenting schedule
- Spousal Support
Think of it as a Balance of Income and Parenting Time
Other Expenses for the Children May be Included
- Medical, dental and insurance premiums
- Childcare
- Out-of-pocket medical/dental expenses
Sometimes shared based on percentages of income since not affected by parenting time
Mandatory v. Discretionary Expenses. May have difference arrangements for sharing discretionary expenses.
Child Support Agreements. Binding agreements that are enforceable by Courts.
Modifiability. Ongoing obligation to ensure children are taken care of financially so adapt as circumstances change
Termination. Typically ends upon a child’s emancipation
You can mutually agree to other child support amounts or pay $0
By comprehensively understanding child support and its various elements, you can navigate the divorce process more effectively prioritize the well-being of your children
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