When a couple agrees to split or divorce, the divorce settlement will also contain a child support order if child custody is contested. The child support order usually specifies the amount and frequency at which one parent, who is usually the non-custodial parent, must pay the other parent, who is usually the custodial parent, for the support of their minor child. One of the key goals of a child support order is to pass one parent’s earnings to the other parent on a regular basis so that both parents’ wealth can be pooled to support the child financially. For more details click Corona Child Support Lawyer.
What factors go into calculating child support? Child support has been heavily regulated by federal regulations in order to avoid significant disparities in the sums ordered from one court to the next. The majority of child support payments are calculated using basic and objective federal standards. As a result, several states have devised statistical methods for calculating child support payments. Attorneys will use child custody calculators to predict how much the non-custodial parent would have to pay the custodial parent.
Which sources of income are factored into the child benefit formula? The net earnings of the parents are normally factored into the child support measurement formula. This may include both federal and state income taxes, Social Security and Medicare taxes, health insurance premiums, union fees, and other required costs deducted from the parents’ gross income before the child support order is calculated. In certain cases, parents will be required to present proof of their earnings, such as pay stubs, profit/loss statements from sole proprietorships, or tax returns, in order to discourage one party from concealing income from the other in order to measure child support correctly.
The child support formula considers a variety of variables in addition to the parents’ net incomes, such as the amount of time a child spends or lives with each parent, the number of children, and special medical or educational expenses. Determining the amount of child support can be difficult, as the method for calculating child support varies from state to state. As a result, some states have chosen to use computer algorithms to calculate the correct amount of child maintenance, while others have chosen to use other approaches.