Who Gets Child Support if We Have Similar Incomes?
In California, child support is calculated based off of a state wide formula. This formula is mainly based off of the net income of the parents and the residential time distribution. Generally, whoever has more residential time with the child is the one who covers more costs, like food, clothing and incidentals. Because California views it as both parents responsibility to financially provide for their child, support is ordered to…
Read MoreHow to Ensure Your Support Order is Feasible
Every divorce involving minor children will involve a child support order. Many divorces will also involve an order for spousal support, if one spouse is unable to be self-supporting after the divorce. Financial support orders such as these are important parts of any divorce but are also often highly contested, spousal support in particular. It is important to make sure your support orders are feasible for both parties. Otherwise, adhering…
Read MoreEnforcing Child Support Orders When Support Goes Unpaid
Once a child support order is issued, monthly payments are enforceable. Unfortunately, there is no fail safe way to ensure those payments are actually made. Child support not paid, also called arrearage, must be paid back with a 10% interest rate per year. The only way for child support payments to stop are: If the parental rights are signed over to another parental figure willing to take on the financial…
Read MoreTax Breaks for Parents: What You Can Expect After Divorce?
One of the many things that will change after divorce is your taxes. You will have a separate filing status and may be in significantly different financial circumstance. Dependency Exemptions One thing that can change is your dependency exemptions. There are many tax breaks for parents. You can claim a dependent on your taxes to reduce your overall taxed income and take advantage of possible tax credits. Some expenses from…
Read MoreIncome and Child Support: What Happens When There is a Change in Circumstances?
Child support is based off of standard formulas that take into account, mainly, the time each parent spends with the child or children, based off of the custody and timesharing agreements, and the parents’ net income. Both these factors can change dramatically post-divorce and so there are procedures in place for changing, also called modifying, a child support order. If you are like many concerned parents, you want your child…
Read MoreHow is a Child Support Order Modified?
Child support is often a long commitment, usually lasting until your child turns 18 or stops attending high school full time. However, child support is calculated off of a standard formula as set forth by the State of California. It is based mainly off of parental income and residential time, although these both fluctuate throughout the course of a child’s upbringing. Significant changes in income or residential time may warrant…
Read MoreWhat Does Child Support Cover?
Caring and providing for your child is a requirement of all parents, regardless of separation or divorce. To ensure no parent walks away from a divorce without the obligation to financially provide for their child, child support is ordered in every divorce case, unlike spousal support, which isn’t always necessary. The State of California has set forth a standard calculation to determine basic child support amounts. This calculation takes heavily…
Read MoreIs Child Support Taxed?
Child support is the basic financial responsibility of all parents of minor children. Parents, whether together, separated, or divorced all carry with them a responsibility to care and provide for their children. How much you will have to pay or will receive depends on how much residential time you spend with your child and the financial resources of both parents. Child Support is Not Taxable Child support is not income…
Read More