If you are approaching the divorce process and expect to owe or receive child support, it is essential to look over a number of issues. Aside from payment methods, income withholding and consequences arising from child support enforcement, you should review various factors that can impact how much child support a parent owes.
It is important to understand how courts calculate child support to plan for your financial future. If you expect to receive support, this will help you review how much money you could receive. On the other hand, this could provide you with a clearer understanding of your obligations if you anticipate owing child support.
Calculating child support awards
The Virginia Department of Social Services discusses the various factors that courts review when awarding child support. In this state, awards follow a set of established guidelines that take a number of points into consideration, such as a child’s needs, the amount of each parent’s involvement with respect to raising the child and the income of each parent.
Courts look at income from all sources, daycare costs, health insurance expenses and spousal support obligations.
Modifying a child support order
Sometimes, hardships arise that make it difficult or impossible to continue paying child support. If you find yourself in this position as a non-custodial parent, you should realize that modification could help you stay current on child support. Likewise, you should understand that the amount of child support you receive could change if your child’s other parent loses his or her job, for example.