If you find yourself going through divorce, there may come a time when you realize that you owe child support. Every child has the legal right to be supported by each parent, which is why this typically comes into play once a couple separates.
How much you pay in child support is based on a variety of factors. This is why you need to understand as much as you can upfront, as it can help you avoid surprises down the line.
First and foremost, each state has its own guidelines in regards to child support. The court takes this into consideration when calculating how much you owe.
Secondly, it only makes sense that the judge will also base this on your income. After all, you can only afford what you can afford. Regardless of the state in which you live, child support is “income driven.” When calculating what you can afford, most sources of income are included, such as:
— Salary and wages
— Money from trusts or estates
— Prizes and gifts
There are other issues that could impact child support, such as the type of custody.
If you know you will owe child support after a divorce, you should be prepared for anything the court decides. Also, keep in mind that you can ask for a modification in the future should you not be able to afford the payment.
You may not be happy with how much you are asked to pay, but it means you are doing the right thing for your child.
Source: FindLaw, “How Much Child Support Will You Pay?,” accessed Jan. 06, 2016