One of the many critical concerns when parents separate, or divorce is ensuring that the financial needs of their children are adequately met. Child support is a very important part of this process. Child support is intended to help cover the expenses of raising a child when the parents no longer raise the child together. Only by understanding how child support is calculated and what factors are taken into consideration can both parents deal with this difficult subject more competently.
There are several factors considered in child support guidelines. However, there are a number of elements that are usually assessed in determining the amount one is supposed to pay as child support. We will discuss these key factors so that you get a clear idea of what to expect.
Income of Both Parents
The most influential factor used in the computation of child support is the income of both parents. It commonly entails the following sources of income:
• Salary or wages from regular employment
• Self-employment income
• Bonuses and commissions
• Investment income
• Rental income
• Social Security benefits
Courts usually consider gross income while making calculations. If one parent has no jobs or low-earning jobs, then the court may consider earning potential rather than actual earnings.
Number of Children
Child support payments are highly dependent on the number of children. Generally, the more children there are, the larger the support payment will be. However, this increase is almost never proportional.
For example, child support calculated for two children is not normally twice the amount calculated for one child.
Custody Arrangement
The amount of time each parent has with the children can impact child support. These factors include:
• Whether one parent has primary custody
• Whether there’s a shared custody arrangement
• How many overnights does the child have with each parent?
In many cases, the parent who sees the children the least pays a greater amount in child support to even out the expenses.
Special Needs or Expenses
Some children have special needs or expenses that are taken into consideration in child support calculations. They might include such things as:
• Private school fees or tutoring expenses
• Disability-related or special needs expenses
These kinds of extra expenses are usually shared by both parents based in proportion to each parent’s income and amount of custodial time.
Cost of Living
The cost of living where the child lives may affect child support payments. Some of the factors that the court may consider include:
• Housing costs
• Food costs
• Transportation costs
• Daycare or after-school care expenses
Where the living standard is higher, the amount for the child support payment may increase based on such higher costs.
Health Insurance and Medical Expenses
Attention is given to health care insurance and other health care costs in all guidelines for child support. It typically covers:
• Premiums paid by children for health insurance
• Costs of sickness not covered by the insurance
These are usually divided between the parents, based on each parent’s income and the type of custody that dictates the child’s care.
Conclusion
Knowing the child support guidelines can help you in this quite complex area of family law. Though the precise calculations might differ based on the jurisdiction in which you find yourself, these are some of the main parameters that tend to be involved in arriving at the amount related to child support payments. The main objective of child support for children is to meet their financial needs, regardless of whether the parents are together or not.
You may want to consult with a family law attorney, who can then advise based on your specific situation. They can help explain how these factors apply in your case and work out an arrangement that is fair to you and your child. Keep in mind that open communication and cooperation between parents can often lead to the most amicable and optimal resolution for everyone involved, especially the children.
Bob Duncan is the lead writer and partner on ConversationsWithBianca.com. A passionate parent, he’s always excited to dive into the conversation about anything from parenting, food & drink, travel, to gifts & more!