Divorce is tough. It is emotionally difficult on the people going through it. That includes the two people getting divorced. It also includes the families involved, which may include children. It is hard enough for the family to go through the divorce and heal from it without having financial planning in the middle of it. Unfortunately, many times those issues cannot be avoided and are simply a part of the baggage that comes along with divorce.
When it comes to the financial end of things, child custody and child support are among the top topics that will be addressed during any divorce. Courts look out aggressively for the best interests of children and whether or not their needs will be met after the divorce. It’s a complex and emotional issue that has an enormous impact on the quality of life of the children. Ideally, both parents care very much about the well-being of their children and want the best arrangements for them after divorce. Divorce has a direct impact on the lives of children, just like it does in the lives of parents.
One of the first questions a person will likely ask themselves while going through a divorce is (1) How much child support they will be able to get, or (2) How much child support they will have to pay.
Even if you are the receiving party and you think you are the most selfless person and want an amicable divorce, you still have needs and if you are the one raising the child(ren) sometimes those needs are much more than expected, especially as children grow up and have needs that cost more.
The above question swings in both directions, depending on whether or not it’s coming from the non-custodial or custodial parent. An example of attorneys who look out for your needs includes the Tampa divorce attorneys who will ultimately advise either parent on what they believe payments should be in the case. And then those lawyers will go to court and argue before a judge, with a judge ultimately deciding if both parents can’t reach some kind of agreement about child support.
There are a lot of questions to ask during this phase of any divorce. For example, who has primary custody? Is it joint custody? What is the income of the custodial or non-custodial parent? In many states, the only thing that will matter is the income of the non-custodial parent. (Sad, because you are probably wondering how you are going to come up with things like monthly budget template and other financial tools just to pay the bills!)
So, in looking at this situation, we realize that the courts may be looking at the financial situation of the custodial parent. In some states, there is an income model that looks at the income of both parents and the number of children that are involved. In other states, the courts look at the percentage of income that should be shared among the number of children from the marriage.
Courts often have great discretion over how much child support is awarded after a divorce, so there is always the idea that you need a good lawyer to argue on your behalf when you go to court about this matter. And, there may be other financial planning issues with the divorce, like the splitting of the house and house assets. After all, the well-being of the children is what is ultimately most important in all of these matters, so it’s best to go into court with a qualified lawyer at your side who can fight for what matters for you and especially your children. That’s what it’s really all about with this situation, right?
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