Child support custodial parent makes more money

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October 23, By Sara Stanich. Child support is money one parent pays the other to meet the needs of a child. Needs may include food, shelter, clothing, health insurance, medical costs, education and child care. The amount of child support is based on the income of both parents.

The goal is to give children the same standard of living they would have if their parents were together. Child support may be suspended or terminated if a child older than 16 becomes emancipated, marries or enters the military.

Duty to pay child support does not stop automatically. Requests to stop making payments need to be submitted and approved by the same court that made the child support order. Joint custody is common if when both parents live locally.

The effect of joint custody on child support depends on the nature of the joint custody arrangement. With joint legal custody, both parents share major decisions regarding the child.

Joint legal custody may have no effect on child support. With joint physical custody, the child spends substantial time with each parent.

If the parents have approximately equal incomes, it is possible neither parent will have to pay support to the other.

Do I still have to pay child support if my ex makes more than I do? – 21 Legal Answers as of May 11, - ytixoluqit.web.fc2.com

The parents, however, will need to coordinate payments on major expenses such as camp, school, clothing, and insurance. Income for purposes of this calculation is gross income on the most recent federal income tax return, minus Medicare, FICA and NYC tax deductions.

They have one child. In theory, both parents could pay their share into a trust or separate account for the child.

In addition to the basic child support obligation, additional payments to cover child care costs if the custodial parent is working or in school , health care expenses, school, camp, or other major expenses may be required.

The basic award may be increased to include a pro-rated share of child care expenses, if the custodial parent is working or in school. In addition, the court may increase the award to include a pro-rated share of educational expenses for the child.

The formula allows you to quickly calculate child support based on income. Couples may agree to an amount different from the formula. This may also be negotiated through mediation, collaborative divorce or their attorneys. Agreements are not valid until approved by the court.

It must state what the basic child support obligation would have been, and why your agreement should be adopted instead. In court, a judge would consider other factors in addition to the formula when determining child support. Each state may have different laws, formulas, or guidelines for support payments pertaining to divorce.

Your attorney can provide advice and calculations based on your unique situation. I am not an attorney and I do not provide legal advice. You should discuss tax or legal matters with the appropriate professional.

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The example mentioned above is for illustrative purposes only. Actual results will vary.

Divorce , Kids Tagged With: Home About Services Blog Contact. How is Child Support Calculated? Child support is an important issue for any divorcing couple with children. Parents need to know what to expect so they may plan for the future. Here are the basic questions I hear from couples in my state, New York surrounding this issue: What is child support? How long does child support last? In most circumstances, child support is paid until your child is age What if parents have joint custody? How much will it be?

Child Support: Mother makes more money than Fat - Q&A - Avvo

The financial resources of the custodial and non-custodial parent, and those of the child. The standard of living the child would have enjoyed had the marriage or household not been dissolved. The tax consequences to the parties.

The non-monetary contributions that the parents will make toward the care and well-being of the child. The educational needs of either parent.

The needs of the children of the non-custodial parent for whom the non-custodial parent is providing support who are not subject to the instant action and whose support has not been deducted from income. Any other factors the court determines are relevant in each case. Conclusion The formula allows you to quickly calculate child support based on income. Free Email Updates Enjoy special offers and invitations to events.

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