While the state has clear child support standards that apply to most families, sometimes parents earn so much money that applying a strict percentage of a parent’s income would result in unusually large child support payments that may be far beyond the actual needs of the child.
In situations where one or both spouses earn more than about $141,000 a year (this amount is recalculated by the state annually, so the current threshold may be slightly higher or lower), the courts have the option of weighing other factors, usually by asking the parents to provide a thorough accounting of the costs of raising the child or children.
When incomes are above approximately $175,000, courts almost always opt for this approach.
If this is your situation, you should be prepared to complete a full accounting of the expenses related to raising your child, including educational costs, clothing, food, travel, entertainment, and everything else that’s relevant.
The court will use this accounting to establish a child support figure in your case, rather than sticking to a strict 17%, or whatever the appropriate percentage is for the number of children in your family.
The attorneys at Friedman & Ranzenhofer can help you develop the strongest child support agreement possible. Call us today at 585-484-7432 for a legal consultation.