What Is Child Support?
Child support is a legal obligation to pay for the basic needs of a child. It is calculated based on an obligor’s income. Typically, it is based on the obligor’s net income. However, in some states, it can also include additional expenses, such as educational costs. In some cases, it can cover a child’s special needs. Divorce Lawyer Hemet
Child support is a legal obligation
Child support is a legal obligation that each parent owes to the other to pay for the basic expenses of raising their child. Support is usually ordered by the court and is not intended to cover every expense associated with raising a child. It is intended to cover only the basic necessities, such as food, shelter, clothing, and medical care. In addition, parents are expected to share in incidental expenses, such as school fees and extracurricular activities. In some cases, the court can order one parent to pay more or less support, depending on the circumstances.
It is based on a parent’s income
Child support is calculated based on a parent’s combined income. The amount of income is taken from the most recent federal tax return and includes employment income, business income, and self-employment income. It also includes any government benefits such as social security and pensions. However, gross income is complex and cannot always reflect an accurate picture of income.
It is calculated by taking the obligor’s net income
Child support is based on the obligor’s net resources. This includes the amount of money the obligor makes each month, his or her assets, and any other income. Net monthly income is determined by dividing the obligor’s gross yearly income by twelve and taking out federal income taxes and social security benefits. It also takes into account parenting time and other factors.
It may continue past 18
There are certain circumstances where child support may continue past 18 years of age. In Wyoming, child support ends when a child turns 18. However, if the child is attending a full-time high school or an equivalent program, child support may continue until the child turns twenty. This may be agreed upon by both parties.
It is calculated by taking a parent’s ability to earn versus their actual earnings
A parent’s ability to earn is calculated by looking at the amount of income they are able to earn versus the amount they actually make. Some parents have complex incomes, with shift differentials, bonuses, stock awards, commissions, and overtime. These factors can affect the amount of child support that a parent must pay.
